Selig Enterprises Inc. is planning a massive mixed-use project along Chattahoochee Avenue where the city’s gritty industrial past is making way for trendy restaurants, new housing and loft offices.
Known as “The Works at Chattahoochee,” this week’s Atlanta Business Chronicle reports the project will represent a billion-dollar investment over the next decade and could mark the largest development of its kind for the area since Atlantic Station.
Selig is launching the adaptive re-use of warehouses and new development on 80 acres. It’s owned the massive collection of warehouses for decades, but as more people continue moving back into the city, vacant land becomes scarce, and development costs remain high, more are turning to older industrial areas for adaptive-reuse projects.
Among them: Jamestown, Stream Realty and Third & Urban.
The Works at Chattahoochee could become the largest contiguous adaptive re-use project in the city. Once completed, it would include more than 1.5 million square feet, with 600,000 square feet of office, 500,000 square feet of retail, 500 residential units and a 200-key boutique hotel.
Phase one is underway. It could take at least five to 10 years to fully develop.
Douglas Sams covers commercial real estate for Atlanta Business Chronicle. Amy Wenk covers hospitality, retail and restaurants for Atlanta Business Chronicle.