Green Street Moves Forward With Ponce City Market Project
- Feb 21, 2012
The Ponce City Market project is one step closer to fruition, as developer Green Street Properties has officially announced that work will start this February on the removal of the 1960s parking deck from the site. The removal of the parking deck was scheduled for three months from now, but since the developer received the necessary permits from the city of Atlanta, work on the demolition process is set to start. The demolition will take up to four months and the materials will be recycled, Atlanta Business Chronicle reports.
Located at the crossroads of the historic Old Fourth Ward and the Atlanta Beltline, the City Hall East property is being positioned by its developers as a showcase of urban revitalization. Plans filed November 21 with the state agency call for 204 residential units, a 160-key hotel, 245,494 square feet of retail space, 20,645 square feet of restaurant space and 348,000 square feet of office space. Acquired by Green Street Properties last July in a $27 million deal, the complex holds the distinction of being the largest brick structure in the Southeast. Ponce City Market will also incorporate major sustainability features such as green space, pedestrian pathways and links to the 22-mile Atlanta BeltLine rail.
Work on the project started in October 2011, but it is mostly invisible to the public eye; yet along with the removal of the parking deck, the developer will attempt to reconnect the site to the community, by adding pedestrian and vehicular access points along Glen Iris and North Avenues. The first phase represents approximately 75 percent of the project and could be completed by late 2013, given the early start.
Photo Credits: Jeff Clemmons via en.wikipedia