ATLANTA--(BUSINESS WIRE)--CIM Group, a community-focused real estate and infrastructure owner, operator, and lender, today announced that the vast undeveloped area in downtown Atlanta known as the Gulch now has a new name: Centennial Yards.
The development of Centennial Yards will feature up to 12 million square feet across a mix of offices, retail, apartments and hotels that will rebuild and reconnect 40 acres of an entire city center that has been in distress and underutilized for decades.
“Now is a prudent time for us to launch the branding of Centennial Yards. We wanted a name that was authentic, and one that would make clear where the project was located, while also honoring the history of the site,” said Devon McCorkle, First Vice President, CIM Group.
The term “Centennial” creates a clear geographical reference to the project’s location along Centennial Olympic Park Drive. Moreover, with over 100 years of rail and industrial history at the site, the term “Yards” is authentic and pays homage to the rail history of the area.
The Gulch was home to an expansive railroad junction that helped shape the city. However for decades, the Gulch has been a vast, unattractive mass of parking in the heart of downtown, while the city has grown and improved around it.
CIM brings its broad experience in owning, developing, repositioning and operating properties to enhance communities across North America to the development of Centennial Yards, one of the most complex and transformative city center developments in the Southeast. The project will create 12 to 15 new city blocks in downtown for a more dynamic, vibrant, and connected Atlanta. A new grid will be established with green-space, open to pedestrians and transit users. Centennial Yards will be the only project in Atlanta that spans and connects two MARTA stations.
“CIM is committed to Atlanta for the long term, and we look forward to being an active member of the community. We want Centennial Yards to be an example of Atlanta’s leadership, growth, quality of life, and vision for the future,” said Shannon Crowell, Vice President, CIM Group.
For more information about Centennial Yards please visit: www.centennialyards.com.
ABOUT CIM GROUP
CIM is a community-focused real estate and infrastructure owner, operator and lender. Since 1994, CIM has led more than $60 billion of projects in metropolitan communities across the Americas on behalf of its own account and for its partners and co-investors. CIM’s broad in-house expertise includes decades of research, acquisition, credit analysis, development, finance, leasing and property management experience in real assets located in and serving densely-populated communities, net-lease assets and other associated credit strategies. Using its disciplined approach and extensive in-house expertise, CIM seeks to create value in projects, which ultimately enhances communities. For more information, visit www.cimgroup.com.
