ATLANTA — On Thursday, a developer with a $760 million plan to construct housing, shops, a hotel and office space in the sprawling Fort McPherson space that was not part of the newly-opened Tyler Perry Studios project, backed out of the project.
According to our partners at the Atlanta Business Chronicle, the board of the Fort McPherson Implementing Local Redevelopment Authority severed its relationship with developer Macauley Investments.
While the majority of the 500-acre complex that sits squarely between downtown Atlanta and Hartsfield-Jackson International Airport is devoted to the Tyler Perry Studios, the remainder of the parcel had been imagined as a mixed-use project which would spur development in a portion of southwest Atlanta which has been hit hard by the recent foreclosure crisis.
The area sits near Langford Parkway and the Lakewood-Fort McPherson MARTA transit station in southwest Atlanta.
The U.S. Army turned the military base over to civilian control for redevelopment in 2011. Several different proposals have been proposed for the site since that time.
For additional details, please visit our business partners at the Atlanta Business Chronicle.
RELATED HEADLINES |