Atlanta Hawks owner Tony Ressler on $5B Gulch development: 'We're full steam ahead'
Eric Jackson, Atlanta Business Chronicle
Tony Ressler was all smiles.
His longtime vision for a thriving mixed-use destination in downtown Atlanta came one step closer to fruition.
The Atlanta Hawks owner was present on April 27 to officially introduce Centennial Yards, a $5 billion 50-acre redevelopment of the historic area formerly known as the Gulch.
“The number one objective, away from making the playoffs this season, is bringing true vitality to downtown,” Ressler said at the formal kickoff event. “That comes along with business, entertainment, affordable housing and good jobs.”
CIM Group, a real estate firm headed by Ressler’s brother, Richard, is overseeing the skyline-changing project. The Los Angeles-based company is one of many developers that has reevaluated designs for future and ongoing projects due to the ongoing Covid-19 pandemic. This includes Centennial Yards, where plans have since centered around spacing and flexibility.
Ressler said Covid hasn’t altered the Centennial Yards timeline much. CIM execs echoed that, estimating the first building will reach completion by 2024.
“Within five years, we’re going to feel like we have a downtown,” Ressler told Atlanta Business Chronicle.
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