The Iron Yard to relocate to downtown's M. Rich building

October 29,2014

via Atlanta Business Chronicle

by Douglas Sams

The Iron Yard, the largest tenant in Buckhead's Atlanta Tech Village, is relocating to an historic downtown building.

The Iron Yard will occupy almost the entire top floor of the M. Rich Building, where more than a century ago Morris Rich started what later became Rich's Department Store.

"Entrepreneurs love moving into spaces that already have history," said Iron Yard partner John Saddington.

The Iron Yard is a code school that is rapidly growing. It graduated 16 students in 2013, but that number will skyrocket to 400 by the end of this year.

It looked at spaces across metro Atlanta, from the suburbs to intown areas, but, Saddington said, "We wanted to become part of something bigger — part of an existing history and culture."

The Iron Yard will lease about 11,000 square feet in the M. Rich building, owned by the Australian property investment firm The Creations Group. The building is almost entirely leased, said Cherie Ong, a director with The Creations Group, which has converted part of M. Rich into a place where young companies can get their start.

More of the young creative class is gravitating to downtown to live and work. Part of the reason is the authentic space. Another factor is prices for even historic downtown buildings can still be remarkably inexpensive, and space can rented at far cheaper rates than other parts of the city.

Consider the recent acquisition of the 117-year-old Flatiron Building for about $2 million. It's now being converted into a hub for entrepreneurs.