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The Atlanta-based agency, Invest Atlanta, has chosen Gorman & Co. to lead the restoration of the historic five-story building located at 143 Alabama St in Downtown. The plan is for a ground lease and master development agreement to be negotiated with Gorman & Co., who have proposed a preliminary plan that includes 197 residential units, primarily affordable.
Dating back to the 1940s, this brick building spans over 95,000 square feet and was originally used as a printing facility for the Atlanta Constitution newspaper until its merger with the Atlanta Journal in 1953. Since then, it has been owned by the city since.
Gorman & Co., known for their focus on developing affordable and workforce housing options will divide this project into multiple phases. The first phase will include residential units along with commercial space on its ground level while later phases will see an additional new residential building being constructed on adjacent land by 2028.
This project aims to offer a variety of unit sizes including one-bedroom apartments up to three-bedroom options at prices that are attainable for households earning between thirty percent and eighty percent of Area Median Income (AMI).
Overall,the City’s decision marks an exciting step forward towards revitalizing this iconic piece of history within Downtown’s core area.
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