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Elevator City Partners, a real estate development firm Co-Founded by Atlanta Beltline Architect Ryan Gravel, is moving forward with plans to develop “West End Atlanta.”
Invest Atlanta on Thursday approved a $2,000,000 predevelopment, mezzanine loan for the 12.5-acre project, the Atlanta Business Chronicle first reported (paywall).
The $350 MM mixed-use project, at 850 Oak Street SW, will be a redevelopment of the existing Mall at West End which was first built in 1972.
Developers are expected to acquire the property before the end of the year, according to Invest Atlanta documentation.
West End Atlanta is expected to go vertical in late-2020 and will deliver nearly two years later.
Once complete, the mixed-use project will be home to 450 residential units, 550,000 square feet of office, 170,000 square feet of retail, and two hotels totaling 420 keys.
There will also be “a series of other public amenities.”
Ryan Gravel Thursday did not immediately respond to What Now Atlanta’s request for comment.
West End Atlanta is the first project for Elevator City Partners, which, in addition to Gravel, is Co-Founded by Donray Von.
The company’s vision is “to leverage real estate in ways that open doors for a wide range of development partners.”
“We understand the historical weight of the West End Mall site,” Gravel and Von state on the Elevator City Partners website.
“It marks the origin point of Atlanta’s legendary African American middle class which has delivered countless dividends in the growth of our entire metropolitan area. Our proposal is to build on this storied legacy through a new chapter of inclusive re-urbanization. Our goal is to honor this highly-visible and culturally-significant property by transforming it into a 21st-century model for African American culture and enterprise, creating a bold catalyst for the West End of tomorrow.”