CIM Group Completes Loft-Style Residences Within $5B Centennial Yards Project in Downtown Atlanta
ATLANTA — CIM Group has completed construction of The Lofts at Centennial Yards South, an adaptive reuse apartment project within the larger $5 billion development in downtown Atlanta known as Centennial Yards. A ribbon-cutting ceremony that took place yesterday also marked the completion of the 160 Trinity offices as well as the launch of construction at 99 Ted Turner creative office, 185 Ted Turner office and the Canyon, a 740-foot-long retail, dining and event destination.
Located adjacent to Atlanta’s Castleberry Hill neighborhood, Centennial Yards South comprises six acres and is the first portion to reach completion within the 50-acre Centennial Yards. A redevelopment of the former Southern Railway Freight Depot and Office Building, which served Norfolk Southern from 1982 to 2005, anchors this portion of the development.
The Lofts at Centennial Yards South features 162 loft-style apartments, including 27 furnished units to accommodate corporate relocations and Atlanta’s burgeoning film industry. The apartments will be available for occupancy starting this summer.
The creative office space at 99 Ted Turner will span approximately 80,000 square feet. The Canyon will serve as a pedestrian promenade below street level. LaGrange-based craft beverage company Wild Leap is slated to open a two-level brewery, distillery and event space in the Canyon this fall, totaling over 15,000 square feet.
“At Centennial Yards, our vision is to reconnect downtown Atlanta and create a place that celebrates all the things this region does best — arts, entertainment, sports, food and business,” says Devon McCorkle, managing director with CIM.
Upon completion, Centennial Yards is slated to include up to 12 million square feet of retail, office, residential, hotel and entertainment space. Situated near State Farm Arena and Mercedes-Benz Stadium, the project will facilitate connections between surrounding communities and create several new city blocks. A partnership between CIM and a group led by Tony Ressler, principal owner and chairman of the Atlanta Hawks, is the master developer.
Since 1994, CIM has led more than $60 billion of projects in metropolitan communities across the Americas. The real estate and infrastructure owner, operator, lender and developer is based in Los Angeles.
— Kristin Hiller