Power Breakfast: Gulch project to take years, tough summer job market, Thrashers, Aflac, Japan, Fed

Even with a development team now selected, transforming the Gulch downtown will take years — possibly decades, AJC staffer Rachel Tobin reports.

Cousins Properties and a team of other well-connected firms were chosen this week to develop a transit hub and “mini-city” downtown in the Gulch — the forlorn tangle of railroad tracks and parking lots, Tobin writes.

Expectations are high for the Cousins team, which beat out two similarly connected firms to become the master planner of a grand central station downtown, which will be surrounded by green space, shops, homes and offices, Tobin reports.

But progress might be measured in years — even decades – and not in days or months, Tobin writes. Before the first shovel hits the Gulch, the Cousins team must complete a master plan and then find ways to fund it.

“Many in the real estate community, while hopeful and optimistic that this project will proceed, will not be surprised if it takes many years before an actual delivery of anything real in the Gulch,” said Ken Ashley, senior director with real estate firm Cushman & Wakefield.

Also in the AJC:

In other media:

- Henry Unger, The Biz Beat

For instant updates, follow me on Twitter.

18 comments Add your comment

TnGelding

March 18th, 2011
7:03 am

Well, you have to start somewhere. One would have thought we’d have something in that vicinity by now 20 years ago. Anyway, more power to them. Anything has to be an improvement.

Exec bonuses bounce back? How gullible we are. They’re going to compensate themselves one way or another. Wouldn’t you?

Maybe the CEO at Aflac can start doing the duck voice to earn a little extra compensation.

Road Scholar

March 18th, 2011
7:14 am

Now if they can get a passenger rail system with service up while we wait on the terminal. And then there is the ignoring of the issues on I 285 waiting for a private partnership to fund what the residents need. Raise the gas tax by adjusting it to inflation!

TnGelding

March 18th, 2011
7:21 am

…and let the many travelers motoring through this huge state help us pay for it, like we do them.

Anna

March 18th, 2011
7:23 am

I won’t be voting for any transit tax as long as it’s funding bike paths and waking trails.

seabeau

March 18th, 2011
7:33 am

Increase the alcohol tax!! Tax the Bicycles which use our roads. “SHARE THE ROAD, SHARE THE TAX”

Can you Believe It!

March 18th, 2011
7:37 am

We need this like we need a billion dollar airport terminal or $400 million in brand new libraries, or the trolly cars, or a new stadium, or any of the other garbage that they unload bonds on Atlanta and Georgians. So many bonds that now they decide they can’t pay their share of the pensions. Atlantans and Georgians need to get a gripe on what Reed and his buddy contractors and lawyers are doing to us.

TnGelding

March 18th, 2011
7:40 am

We sure don’t want to encourage recreation among our obese citizenry while making the roads safer for all of us.
.

TnGelding

March 18th, 2011
7:42 am

Lack of good transportation options could also be holding back our economic recovery when compared to the rest of the country.

Corey

March 18th, 2011
7:51 am

Ok Kennesaw residents, let the insults fly. After all, we’re talking about downtown Atlanta.

Thug Central

March 18th, 2011
8:04 am

Grand Central? With the huge class disparity in Atlanta I hope they build a jail within the transportation hub. Have you been to 5 points? Have you been to the West End? This is going to be a hub for crime, not redevelopment.

Go Away Thugs

March 18th, 2011
8:10 am

Thug Central, Five Points is like that because 1. It doesn’t look nice and 2. It hasn’t been kept up. This project also includes renovating/modernizing Five Points station and the area around it. If you make it nice and keep it nice, more “normal” people will use it and the thugs will become diluted, maybe even less. Right now they feel like they have control. We need to take it away from them because they are ruining progress in that part of Downtown. If we don’t do something, nothing will change. It’s worth the risk.

taxed enough

March 18th, 2011
8:10 am

NO MORE TAXES!!!

taxed enough

March 18th, 2011
8:14 am

If a passenger rail system could pay for it self private industry would be all over it. The few tax payers we have cannot afford a government run rail system. Get a moped!

winkasdad29

March 18th, 2011
9:50 am

This is a long overdue project. The Five Points area is in great need of improvement. This project will probably link the Multi-Modal Terminal with Five Points MARTA via a plaza. Philips Arena will be right next door.

I think one of the keys is to get commuter rail up and running. If you can get people out of their cars and into trains, then this project has a great chance to succeed. Amtrak should be rerouted to the new station
as well. Also, weekend “Bulldog Special” trains could be run to Athens on gamedays.

This project has HUGE potential and could bring downtown to prominence. There will be many jobs created from police and fire to retail positions. This is nothing but a good thing, and those whining over this are not looking at the big picture.

TnGelding

March 18th, 2011
12:28 pm

I wouldn’t expect it to rival Glitter Gulch, but maybe if we legalized casino gambling it could.

Leighton Smith

March 18th, 2011
2:22 pm

Engaging and well written article! This tops anything I have read lately on the subject at hand. I wonder if this’ll be posted on Twenty-First Tycoon. Although the site has awesome political, business, technology, and real estate news, they could use more stuff like this. http://www.21Tycoon.com

TnGelding

March 18th, 2011
9:15 pm

Let’s make this the last major project in the ATL. The rain has to have some place to be absorbed. The flooding is only going to get worse.

TnGelding

March 19th, 2011
9:49 pm

Let’s hope this intervention in Libya ends before the opening bell on Monday. I don’t like killing innocents to keep someone else form doing the same. Just go in and get the madman. Or challenge him to a showdown at the O.K. Corral.