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Centennial Yards Company Breaks Ground on $5B 50-Acre Mixed-Use Development to Transform Downtown Atlanta

ATLANTA, GA — Centennial Yards Company announces the groundbreaking of Centennial Yards, one of the largest city-center developments in the United States. Atlanta Mayor Andre Dickens joined Atlanta Hawks owner Tony Ressler; CIM Group Co-Founder and Principal Richard Ressler; Grant Hill, Vice Chair of Atlanta Hawks; and Michael Russell, CEO of H.J. Russell and Company, to celebrate the start of new construction at Centennial Yards.

With an overall site plan designed by a global team led by architecture firms Foster + Partners and Perkins&Will, Centennial Yards is a mixed-use destination in the Southeast's biggest, most influential market. The $5 billion 50-acre development is located at the site where Atlanta was founded, and is expected to contain 8 million square feet at full completion, with 4 million square feet of new residential buildings and 4 million square feet of commercial buildings, including new office, retail, restaurants, and hotels.

Construction recently commenced on the first two ground-up high-rise buildings, an 18-story full-service boutique hotel named Anthem, and an 18-story residential tower, located adjacent to Mercedes-Benz Stadium and State Farm Arena. Both towers, designed by Atlanta-based architecture firms Goode Van Slyke Architects (GVSA) and TVS Architecture + Design, are slated to be complete in 2025.

Anthem will feature guest rooms averaging over 400 square feet, a pool deck with bar and event room with capacity for large events, an over 8,000-square-foot ballroom with views overlooking Centennial Yards, and a rooftop restaurant and bar with views overlooking Downtown Atlanta. Nearby, an 18-story amenity-rich residential tower will offer apartments ranging from studios to 3 bedrooms, with interior design by TVS Architecture + Design. In addition to the residential offering, the building will feature a pool with event lawn and grilling stations, on-site co-working space, dog run, fitness center with Technogym equipment, and multiple residential lounges.

"This is a historic day for Centennial Yards, CIM Group, our partners, and for Atlanta, and we are delighted that the project is taking such a major step forward, only a year after securing our development agreement with the city," said Centennial Yards Company President Brian McGowan. "Centennial Yards is one of the most ambitious developments in the country, and today's groundbreaking on the first ground-up towers not only marks an extraordinary day in Atlanta history but also the celebration of our shared vision for a vibrant downtown coming to life."

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Centennial Yards' commitment to the City of Atlanta will ensure that the new live-work-play neighborhood will be built by and for Atlantans. The overall development delivers:

  • 20 percent affordable housing for 99 years
  • 38 percent goal of minority- and female-owned business participation in the project including design, development, and property management
  • 25 percent of entry-level construction jobs at Centennial Yards — and 10 percent of all construction jobs — are targeted for workers from around Downtown Atlanta

"With the development of Centennial Yards, we have an opportunity to further revitalize downtown while bridging the gap between the east and west sides of our city," Dickens said. "This project is uniquely Atlanta — bringing the public, private, and nonprofit sectors together to dream big and execute a plan in a thoughtful and deliberate manner."

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