IMAGINE DOWNTOWN PROVIDES LOAN FOR ATLANTA AIRPORT PROJECT

by admin

HAPEVILLE, GA. — Imagine Downtown, an affiliate of Atlanta Development Authority and Central Atlanta Progress, has loaned $6 million to Jacoby Development for its 6.5 million-square-foot Aerotropolis Atlanta mixed-use development. The project will be located at the former Ford Atlanta Assembly Plant in Hapeville, near Hartsfield-Jackson Atlanta International Airport. IDI’s loan will go toward the development’s $96 million first phase, which consists of demolition of existing buildings, environmental remediation of the site and a 4,000-space parking lot. IDI provided the loan through its $30 million of tax credit authority, part of an $80 million New Market Tax Credits allocation from the U.S. Department of the Treasury.

You may also like