real estate

New Underground Atlanta Redevelopment Details Announced

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New Underground Atlanta Redevelopment Details Announced

Masquerade is staying put plus plans for student housing, multi-family.

Real estate investment company WRS, Inc. this week announced new details about the redevelopment of Underground Atlanta, including an agreement with the Masquerade to remain in its current location and new deals to build student and multi-family housing.

The Masquerade and the freshly-opened co-working space Post-Office were highlighted as existing tenants that will remain in place, anchoring the new development.

The newly-released plan shows 40,000 square feet of retail space on the site's southwest corner, designated "Block 4," where many of Underground Atlanta's long-term retail tenants have been relocated and continue to operate.

It will not be further developed.

The first construction will begin in early spring 2018 on "Block 3," the southeast section of the development that includes the Masquerade and Post-Office.

Construction will focus on the rehabilitation of existing buildings for a mix of retail, offices and communal spaces that "support a 24/7 lifestyle."

"Block 2," at the northeast corner of Pryor and Upper Alabama streets, will include student and multi-family housing developments from Peak Campus and Prestwick Companies, respectively.

Construction on this piece of the new Underground is expected to begin in fall 2018 with target completion dates in 2020 for the student housing and 2021 for the multi-family development.

The last section of the development, "Block 1," is described as "a vision for higher density hotel, office, retail and additional housing." This block will be built last and does not yet have a timetable for construction.

More news to come as this story develops.

Underground Atlanta - WRS - Redevelopment

Underground Atlanta

50 Upper Alabama St, Atlanta, GA 30303
Henri Hollis
Henri Hollis

Henri Hollis is a freelance writer and photographer who specializes in the restaurant industry, as well as a rare native Atlantan. He has worked with local restaurant clients in various PR and marketing capacities for several years and is well-versed in Atlanta’s restaurant, retail and real estate ecosystems.

One response to “New Underground Atlanta Redevelopment Details Announced

  1. I’m confused why it is called Underground Atlanta when it’s not underground? Will it be renamed to more effectively describe what it is?

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