Texas-based developer Weingarten Realty has entered final negotiations to acquire the Atlanta Civic Center for a mixed-use development.
The board of Invest Atlanta, the city’s development arm, voted Thursday to enter into final negotiations for a sale of the civic center and about 19 acres of land for $30 million.
Weingarten’s Atlanta office is expected to lead a project involving office space, retail, restaurants and residences. The performing arts hall would be razed.
The city started the process to sell the civic center in April 2014. In January, Mayor Kasim Reed said bids for the site were less than expected and negotiations have continued with multiple parties through Thursday’s board vote.
Weeks to months of additional negotiations over the final sale are expected.
An Invest Atlanta resolution described the project as a nearly $300 million development with more than 380 apartments, 20 townhouses, a grocery store and other retail and 250,000 square feet of office space.
But the particulars of the project are subject to changes as plans for the site are still in development, Weingarten officials said.
Check back later for more details on this developing story.
