Centennial Yards reaches milestone in $5 billion Gulch redevelopment

Posted at | Categorised in community, construction, infrastructure, real estate, sports

It seems like “The Gulch” may not have many days left.

For many years, the 50-acre site located between Mercedes-Benz Stadium and State Farm Arena lived up to its designation as an empty area featuring only paving stones and railway tracks, with minimal development otherwise.

“This marks a significant day for us, however, we have much more to look forward to,” stated Brian McGowan, the president of Centennial Yards corporation.

On Thursday, Centennial Yards hosted a “steel rising” event to commemorate the installation of the initial steel for the construction of the Cosm.

“It’s super exciting because it’s our first big tenant,” McGowan said.

The Cosm is a three-story, 70,000-square-foot interactive entertainment complex.

The complex features an enormous dome providing spectators unobstructed views of major sports competitions, complete with a display akin to the “Sphere” in Las Vegas.

The Atlanta site will be the third Cosm establishment following those in Dallas and Los Angeles.

TRENDING STORIES:

Jeb Terry mentioned that they chose Atlanta due to its strategic location, and their aim is to be operational before the city hosts the World Cup next year.

I would say there isn’t another location like this globally due to the surrounding structures,” Terry stated. “When viewed from an international perspective, all eyes will be on this place. The upcoming FIFA World Cup, along with future Super Bowl events and various collegiate championships, will draw significant attention.

The Centennial Yards initiative requires over $5 billion to rejuvenate the 50-acre area.

The end plan calls for a multi-use district, anchored by a 5,000+ seat entertainment facility.

Earlier this week, the firm overseeing the redevelopment revealed that Live Nation will be leasing the venue.

“If you’ve lived in Atlanta as long as I have, which has been my entire life, then you’re familiar with the Gulch. It’s essentially a large depression in the earth filled with parking lots and such,” stated Andrea Worthy, who serves as the economic development director for the city of Smyrna.

Worthy mentioned that initiatives such as this one could create a “halo effect” benefiting areas around the development zone. She pointed out a comparable advantage occurred following the construction of The Battery in Cobb County by the Atlanta Braves.

However, these projects take a lot of work.

“There are many moving parts, many partners involved. You’ve got to get the city involved in those types of things. It’s a really complicated process,” Worthy said.

Developers anticipate that the Gulch will soon be reborn as an entertainment and economic center for the downtown area.

“So when those planes fly overhead during major global events, it won’t resemble a huge parking lot filled with vehicles. Instead, it will transform into an energetic, multi-purpose commercial area where visitors can come and immerse themselves in Atlanta—discovering who we are and experiencing our culture,” McGowan explained.

Tags :