Amy Wenk, Atlanta Business Chronicle
At least $1 billion worth of projects are planned for Atlanta’s SoNo district, a long-overlooked area along Peachtree Street south of North Avenue and stretching to the Downtown Connector.
A historic but run-down tower on the edge of SoNo is set to become a hotel after sitting vacant for more than 20 years.
Emory University plans to transform the district’s former Peachtree-Pine Homeless Shelter. It also envisions a new cancer institute that would rise next to Bank of America Plaza.
A team of national architects and urban planners just came to Atlanta to study the potential of a nearly $500 million plan to cap the Downtown Connector called “The Stitch.” It would run through SoNo and could one day pack a $3 billion economic impact to the area.
And, more investors are picking up strategic sites for high-rise development.
The activity is a sign of downtown’s new “golden age,” A.J. Robinson, president of Central Atlanta Progress, said at the group’s annual meeting on March 12.
“For decades, downtown was an island unto itself, cut off from Midtown and Buckhead by the Connector,” Robinson said. “Now, the market is the healthiest it’s ever been, and there’s a confidence in what we offer that is inspiring investment in long dormant neighborhoods.”
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