by: John Bachman Updated:
ATLANTA - Channel 2 has learned that Atlanta's aging Amtrak station could be replaced by a new station about a mile down the tracks. It would be part of a major new development next to Atlantic Station.
Vacant for 10 years, 12.5 acres next to Atlantic Station and just west of Midtown Atlanta are prime real estate.
Real estate expert Penelope Cheroff says, "I have a lot of clients who want to be in that market."
The State Road and Tollway Authority owns half the property. A private company owns the other half. Together, they've put the whole piece on the market.
According to their sales pitch, Amtrak has picked the site as the potential new Atlanta station. Amtrak would also put $6 million into the project.
Last year the state applied for millions of dollars in federal grant money to replace the aging Amtrak station on Peachtree Street and build a new Amtrak station at 17th Street. The state didn't get that grant, but the work done may help develop the empty property.
"I would imagine a lot of people will be interested because it's hard to find a site that large with that good of access and accessibility,” Cheroff said.
A spokeswoman with the State Road and Tollway Authority told Channel 2's John Bachman they got three development proposals. They have narrowed it down to one, but won't give any details about it yet.
"I would think it would be retail, potentially some office, on second levels,” Cheroff said.
According to the state's schedule, next month leaders will finalize a developer.
"I think having a nice new place to go to to get the train would give more ridership, absolutely," Cheroff says.