ATLANTA — Fresh off the opening of a new wing in the city’s largest food hall, developer Jamestown Properties has started construction on a 700,000-square-foot-expansion to Ponce City Market.
Developers broke ground on the project Apr. 5 and will add office, retail and residential space to the property by 2024.
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The next phase includes an office building with roughly 90,000 square feet of rentable space and 23,000 square feet of retail space slated to be located at the corner of Ponce de Leon Avenue and Glen Iris Drive.
Developers journey to assembling public incentives to partially fund the expansion was scrutinized.
They sought two separate tax breaks for offsetting some of the costs of construction, and subsequently pulled both proposals before the Development Authority of Fulton County could approve or deny them.
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The developers will now move forward without incentives.
Jamestown’s transformation of the hulking Sears-Roebuck building along the BeltLine Eastside Trail cost nearly $250 million.
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Office tenants have similarly come and go, though Ponce still offers some of the highest rents in the city. As a recent example, Capital One announced it will occupy 15,000 square feet of office space at Ponce City Market earlier last month.
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