Jamestown Properties assumes ownership of City Hall East, reveals Ponce City Market redevelopment project during a rooftop ceremony Monday, July 11, 2011. It plans to restore the 2.1 million square-foot property as a mixed-used development. Jamestown purchased the property from the City of Atlanta through the Atlanta Development Authority for $27 million, including an initial $15.5 million payment closing.
The Atlanta Regional Commission has given its blessing to the mega revamp of the former City Hall East building in east Atlanta.
The commission posted a ruling Friday that the Jamestown Properties project, now known as Ponce City Market, is in the “the best interest of the region and therefore the state,” according to a posting on a state website.
Jamestown is planning a mix of retail, residences and office space at the former city hall outpost on Ponce de Leon Avenue that originally was a hulking Sears warehouse.
Jamestown bought the building from the city in 2011 for $27 million, and plans to invest more than $200 million in the venture as it is developed over several years.
Former Gov. Roy Barnes on Thursday said state Rep. Tyrone Brooks will mount a vigorous challenge of a 30-count federal indictment that accuses him of stealing nearly $1 million over 20 years from a pair of charities.