Report: Developer hits pause on request for BeltLine project tax break

A rendering of the proposed New City project.

Development firm New City asked Invest Atlanta, the city’s economic development arm, to delay a hearing on Nov. 21 where it planned to ask for $22.5 million in tax breaks for a big mixed-use development along the Atlanta BeltLine’s Eastside Trail.

According to a report in the AJC, New City has come under criticism and it appeared there were not enough votes from Invest Atlanta members to win approval.

The project, which would be built on the former Georgia Power marshaling yard adjacent to Historic Fourth Ward Park, would feature 1,100 residences, more than 1 million square feet of office space, 200,000 square feet of retail and a 75-room hotel.

New City sought the tax break for the first phase of the project, which includes 350 apartments and 475,000 square feet of office space.

Critics of the project said there wasn’t enough benefits for the public to justify the huge tax break.

2 Comments
  1. They were coming for $22.5M not $2.25M!!!! Outrageous to ask for any break for the hottest location in town, which is why it lacked the votes.

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