VIA INVEST ATLANTA
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A $250 million Atlantic Steel TAD allocation was used to prepare the Atlantic Steel site for redevelopment and address infrastructure challenges, including the addition of a groundwater collection and treatment system, construction of the 17th Street bridge and an environmental cleanup of epic proportions. Remediating the widespread industrial contamination took years and involved removing 165,000 tons of contaminated soil, recycling 150,000 cubic yards of concrete from the steel mill’s foundation and support structures, asbestos abatement, lead-based paint abatement and air monitoring. Far-reaching Impact Out of the rubble of Atlantic Steel rose Atlantic Station – a vibrant, walkable community featuring thousands of mix-income residential units, millions of square feet of commercial office space, a luxury hotel, acres of green space and blocks of retail and restaurant establishments. The development, 15 years and $3 billion in the making, quickly became an Atlanta destination. It created approximately 20,000 new jobs, provided enhanced property and sales tax revenues for the city and led to key infrastructure improvements to nearby corridors. What’s more, Atlantic Station
presented a critical link to Atlanta’s Midtown and Westside neighborhoods, stimulating millions of dollars of additional investment on its perimeter. Renamed the Atlantic Station TAD, this initial public investment has led to one of the most successful economic redevelopments in the city’s history. In fact, the land’s assessed value has grown from $7 million in 1999 to $843 million in 2024. According to Dr. Eloisa Klementich, president and CEO of Invest Atlanta, the Atlantic Station TAD is the epitome of public investment working for the good of all Atlantans. “It’s a text-book example of how public and private investment can address pressing issues while also creating a unique community asset,” says Dr. Klementich. “Atlantic Station is a city-defining development whose impact extends well past the boundaries of a district.”
Atlantic Station’s assessed value has grown from $7 million in 1999 to $843 million in 2024.
Snapshot
1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019 2021 2023 2024
> $250 million TAD investment > Assessed property tax value has grown from $7 million in 1999 to $843 million in 2024 > $5.4 billion impact on the economy based on IMPLAN analysis > Approximately 20,000 jobs created > 165,000 tons of contaminated soil removed > 150,000 cubic yards of concrete from the Atlantic Steel Mill recycled
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