A team consisting of D.A. Davidson’s Development Finance Group, J.P. Morgan, and co-manager Truist Securities has successfully secured $575 million in financing for Centennial Yards, a 50-acre project that will revitalize the “Gulch” district in Atlanta.
The funding was obtained through the issuance of bonds by the Atlanta Development Authority. This included $219 million in Senior Revenue Bonds backed by property tax increment from the Westside Gulch area and $356 million Convertible Capital Appreciation Economic Development Certificates supported by a 5% EZ Fee (similar to sales tax) collected within Centennial Yards.
Centennial Yards will feature a diverse mix of residential, commercial, retail, and entertainment spaces. The development is expected to bring over 2,600 residential units to downtown Atlanta with 20% designated as affordable housing options. Additionally, there will be nearly 3
