Atlanta entrepreneurs behind tech hub acquire South Downtown development site

January 6,2021

 Dyana Bagby and Douglas Sams, Atlanta Business Chronicle

A group of Atlanta entrepreneurs that pitched a mixed-use project centered around technology companies has purchased a potential development site near downtown's Castleberry Hill.

Urbantec Development Partners, led by Jae Kim and Suresh Sharma, bought the former 10-acre Gourmet Foods International headquarters for about $26 million, according to the firm that marketed the property for sale.

In 2019, Kim and Sharma led a group behind a concept called The Augury Square, a mixed-use project that aimed to foster innovation by clustering large and small tech companies amid housing, hospitality, shops and restaurants.

The purchase is the latest attempt to convert the city's industrial land in South Downtown where billions of dollars are pouring into projects such as the Mercedes Benz Stadium as well as future redevelopments like the Gulch.

Read the complete article at the link above.