Three developers with local ties are planning to redevelop the area around Marta’s Five Points station. The redeveloped area will be called Railroad District, as a symbol of the first business corridor and hotel row in Atlanta’s history. The plans call for nearly 1,000 new lofts and an undetermined amount of new retail space. The total price tag for the project could reach $100 million. Here are a few of the details:

• Emory Morsberger plans to convert an old bank headquarters building into 330 lofts that will probably sell for about $250,000 each.
• Wood Partners plans 325 apartment units in the first phase of redeveloping the former Norfolk Southern headquarters.
• Miller Gallman Developers plan residences and retail on the 12 acres it owns in the southern end of the district.

Ben and I will keep you updated as more information comes to light. If you have any intown Atlanta real estate questions or specific questions about the Railroad District, please contact us.

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