A partnership between 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 redevelopment project in Atlanta’s “The Gulch” district.
Through the issuance of bonds by the Atlanta Development Authority, $219 million was raised through Senior Revenue Bonds backed by property tax increments from the Westside Gulch area. An additional $356 million was raised through Convertible Capital Appreciation Economic Development Certificates with a 5% EZ Fee (similar to sales tax) collected within the Centennial Yards project.
Centennial Yards will feature a diverse mix of residential units, commercial spaces, retail outlets and entertainment venues. The development is expected to include over 2,600 residential units with 20% designated as affordable housing options. It will also offer nearly 3
