**Atlanta Development Authority Approves $223.7M Bond for Downtown Venture**
Develop Fulton’s board of directors has approved a $223.7 million bond inducement for a large-scale development on a 10-acre site in Downtown Atlanta. The proposed project, led by developer Webstar Technology Group, is located just south of Mercedes-Benz Stadium along Whitehall Street, near the Castleberry Hill neighborhood.
While the bond inducement has been approved, the developer must demonstrate additional progress before the bond is officially issued. If successful, Webstar stands to receive $9.7 million in tax savings over a 10-year period.
Named “Forge Atlanta,” the ambitious project carries an estimated total cost of $756 million. The first phase of development includes the construction of 300 hotel rooms, 60,500 square feet of retail and entertainment space, and a range of amenities. Additionally, approximately 600 residential condominium units will be built, with an unspecified amount of office space also planned.
The site has potential for up to 15 million square feet of development, positioning Forge Atlanta as a transformative project in the downtown area.
