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**Atlanta Development Authority Approves $223.7M Bond for Massive Downtown Project**
Develop Fulton’s board of directors has granted preliminary approval for a $223.7 million bond inducement to help finance a major mixed-use development in Downtown Atlanta. The incentive applies to a 10-acre site located just south of Mercedes-Benz Stadium along Whitehall Street near the Castleberry Hill neighborhood.
The developer, Webstar Technology Group, must demonstrate additional project progress before the bond issuance moves forward. If the project proceeds as planned, Webstar is expected to receive approximately $9.7 million in tax savings over the next 10 years.
Dubbed “Forge Atlanta,” the proposed development is slated to cost an estimated $756 million. Phase one of the project includes roughly 300 hotel rooms, 60,500 square feet of retail and entertainment space, and other supporting amenities. Plans also call for the development of approximately 600 residential condominium units and an unspecified amount of office space.
In total, the master plan includes up to 15 million square feet of potential development, which would significantly reshape the Downtown Atlanta landscape.
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