The city of Atlanta announced Tuesday that the Mall West End property was acquired as the first step in a massive $450 million project to revitalize the historic site.
The redevelopment — purchased and led by BRP Companies and The Prusik Group — will turn the 12-acre space into a mixed income, mixed-use affordable housing hub with commercial, retail and office space.
“This is a long-awaited new era for the West End,” Atlanta Mayor Andre Dickens said in a statement. “This is not just a redevelopment of the Mall West End — this is fulfilling a commitment to a community.”
Last year, plans to transform the 12-acre site into a mixed-use community with 900 apartments hit a roadblock after developers, including BRP Companies, filed a notice to terminate a contract with the mall’s ownership.
Now, the ambitious multiyear project is expected to begin in 2025. The current plans include 125,000 square feet of retail space — including room for a grocery store, gym and restaurants.
The city plans to build about 900 mixed-income apartments with 70% slated for workforce housing and at least 20% of units for those earning 50% of the area median income ($48,200 for a family of four). An additional 10% of units are dedicated for those earning up to 80% of the area median income ($77,120 for a family of four).
A 150-room hotel and 12,000 square feet of medical office space are also part of the site plan.
Funding includes a $5 million acquisition loan from Atlanta Urban Development, $5 million from Atlanta Beltline, Inc. and $19 million in acquisition financing provided by Merchants Capital.
“Thanks to the resilience of legacy residents, business owners and the surrounding communities; and the hard work of our office, Mayor Dickens and his team and so many other partners, we can preserve an authentic cultural experience for future generations of West End and Atlanta residents,” said Council member Jason Dozier, who represents the area.
The developers on the project also intend to establish a $500,000 fund for qualifying tenants, according to the city, that will provide rent credits and tenant improvement allowances.
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