Atlanta takes one step closer to $5 billion development in The Gulch

ATLANTA, Ga. — There’s a new effort to sweeten the deal to develop a large chuck of vacant land in downtown Atlanta.

On Monday, the office of Mayor Keisha Lance Bottoms announced a proposed agreement to build out the area known as The Gulch, best known for train tracks and parking lots.

"It's always been like that. I'm 42. A lot has changed. But not the Gulch," resident Kailan Brooks told Channel 2's Berndt Petersen.

More than 30 acres in the shadow of Mercedes-Benz Stadium and State Farm Arena has been targeted for the construction of a $5 billion development of office space, hotel rooms, and residences.

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But some locals can see a downside.

"It's only good to bring revenue into the A-T-L.  But is it going to push the people out?" Willie Kelsey told Channel 2 Action News.

City leaders are out to ensure it won’t.

The mayor’s office has announced an agreement with the project’s developer to guarantee commitments to affordable housing and economic development city wide, along with the construction of a new police precinct and fire station. It's worth more than $40 million.

"I think it is about time. I think it'll be great for job opportunities for the community more than anything,” Brooks said.

A city council vote is expected next week.

Cox Media Group