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Atlanta Business Chronicle
Atlanta submits bid for Sundance Film Festival, pledges $2M
If Atlanta could lure the 2027 Sundance Film Festival, the prestigious event could be spread across popular intown theaters and civil rights landmarks. <\p> City officials have made an official bid for the film festival, which has been in Park City, Utah for almost 40 years. Atlanta says it is pledging $2 million toward the effort, along with a “robust array of concessions and in-kind support,” according to a Monday announcement. <\p>
Big Atlanta law firm names co-chairman
John Yates, founder and head of Morris, Manning & Martin’s corporate technology practice, was named co-chairman of the Atlanta-based law firm.<\p> Yates has been with the firm for nearly 40 years. He will join Chairman Gerald Pouncey in leading the firm.<\p>
The Gulch's prime target now entertainment, not Big Tech
It might have been the apex of the idea that Big Tech can revitalize cities.<\p> Seven years ago, Amazon.com Inc. launched a sweepstakes for an East Coast headquarters. Atlanta was a finalist for the project, known as HQ2. Amazon liked The Gulch, a more than century-old convergence of rail lines that for years has left a 50-acre void in Downtown.<\p>
Mixed-income housing proposed for West End mall
An organization launched by Atlanta officials is working on more than a dozen deals for mixed-income housing, some of which could rise on a couple of well-known properties with rocky histories.<\p> The Atlanta Urban Development Corp. is in the middle of negotiations over the future of The Mall West End and the 41 Marietta office building. The organization's board members briefly mentioned the prospective deals at a meeting Friday in Southwest Atlanta.<\p>
Atlanta's first art fair could boost local market
The inaugural Atlanta Art Fair will come to the Peach State this fall, bringing work from over 50 soon-to-be-announced local, national and international galleries.<\p> Kelly Freeman, director of Art Market Productions, the creative events firm behind the exhibition, told Atlanta Business Chronicle that after over a decade of producing art fairs, she finds they can boost regional art markets. <\p>
Centennial Yards taps bond market for $550M; will fund next phase
The developer of Downtown's Centennial Yards on Thursday made its first big ask to draw down incentives already approved for the Gulch-reshaping project, which it says are needed to fund its next phase. <\p> The board of Invest Atlanta, the city's economic development agency, gave unanimous approval to the developer to sell roughly $557 million worth of bonds and certificates to help finance its next 8-acre phase. <\p>
Metro Atlanta lands new HQ for global company
Warehouse automation and software company Swisslog is opening an American regional headquarters in metro Atlanta. <\p> The international company is headquartered in Switzerland and has locations in over 25 countries. In North America, the company has facilities in Virginia, Ohio and Mexico with field service engineers located across the United States.<\p>
Consumer goods giant relocates HQ
Newell Brands Inc. has finalized a 180,000-square-foot lease for its new global headquarters in Sandy Springs, another sign large office deals are ticking back up this year.<\p> The consumer goods giant is relocating to the landmark "Queen" tower within Concourse Office Park. The company, whose brands include Rubbermaid, Sharpie and Elmer’s, will take floors 7 through 11, 15, 17 and a portion of the first floor. The deal was fully executed June 18.<\p>
Bitcoin miner buys five data centers
CleanSpark, a bitcoin miner, has acquired five data centers in rural Georgia for $25.8 million in cash, according to a company news release.<\p> The company, which describes itself as "America's Bitcoin Miner," owns about 300 megawatts of infrastructure in Georgia, but this will grow to 400 with its latest acquisition.<\p>
TV Realtor Josh Altman sees Atlanta's untapped potential
Atlanta’s housing market has a fan in one of TV’s most recognized real estate personalities.<\p> Luxury real estate agent and reality television star Josh Altman said in an exclusive interview with Atlanta Business Chronicle that housing stock in Atlanta is undervalued compared to markets with more eminent reputations, like those featured on his show, “Million Dollar Listing Los Angeles”.<\p>
Five Points revamp draws more flak
Atlanta City Hall is embroiled in a feud with MARTA, stoked by an upcoming renovation to MARTA’s Five Points station and the preliminary findings of an audit.<\p> At a Monday meeting, the Atlanta City Council unanimously passed a resolution in support of Mayor Andre Dickens’ recent request to temporarily halt the project.<\p>
Q&A: CEO of Mercedes-Benz USA on F1's influence
Dimitris Psillakis was named president and CEO of Mercedes-Benz USA in 2020, officially taking over in 2021.<\p> The native of Greece is now based in Atlanta, after living and working in the United Kingdom, South America and Korea.<\p>
New renderings show off upscale Midtown restaurant
Sozou, Chef Fuyuhiko Ito's upscale Japanese restaurant that will be a dining anchor at Portman Holdings' Spring Quarter, will have a nature-inspired design running through its indoor and outdoor space, according to newly released renderings. <\p> The team behind the upscale eatery is working with Lazzoni Furniture Atlanta and international design firm PMTA Studio to bring together the refined scene. <\p>
Former airport executive to lead Girl Scouts as CEO
The Girl Scouts of Greater Atlanta announced J'Aimeka “Jai” Ferrell will be its new CEO effective July 1. <\p> The appointment comes after the nonprofit’s board of directors conducted a year-long, nationwide search. Former CEO Amy Dosik resigned in May 2023. Since then, Girl Scouts’ long-time board member and volunteer Kathleen “Kat” Marran served as the organization’s interim leader. <\p>
Meet Atlanta's Most Admired CEOs of 2024
Each year, Atlanta Business Chronicle recognizes the metro area's Most Admired CEOs.<\p> The awards honor chief executives, managing directors, market leaders and principals with a strong record of innovation in their field, outstanding financial performance, a commitment to quality and diversity in the workplace and contributions to the metro Atlanta community.<\p>
National company commits funding for Atlanta youth center
The Atlanta Police Foundation plans to build its fourth At-Promise youth center with the help of QuikTrip, which has agreed to give $3 million toward the project. <\p> Representatives from both organizations along with other business, city and community leaders took part in a ceremonial groundbreaking Friday at the proposed site at 2175 Martin Luther King Jr. Drive SW, which is midway between the West Lake and Hamilton E. Holmes MARTA transit stations. <\p>
Major landlords targeted by class-action lawsuits over pricing
Several major apartment landlords from across the country are under fire over rental rates — allegations that have spawned a wave of class-action lawsuits and garnered the attention of state and federal authorities. <\p> The lawsuits have high-stakes for the apartment market and beyond, with potential to shape how pricing software could be utilized in multiple industries. <\p>
Expanded relief fund approved for businesses impacted by water crisis
Atlanta officials have enlarged a recovery fund for small businesses affected by a couple of major water main breaks, which left much of the city without reliable access to water for days.<\p> At a Monday meeting, Atlanta City Council agreed to transfer $7.5 million to Invest Atlanta. The city’s economic development arm will distribute the funding to businesses in the form of grants to cover lost revenue, employee wages and other expenses incurred during the recent crisis.<\p>
Affordable housing project breaks ground in northeast Athens
A national investor in workforce housing development is teaming with an Atlanta-area company to deliver low-income housing in northeast Athens.<\p> Indianapolis-based real estate investment firm Birge & Held and the Decatur-based housing nonprofit Tapestry Development Group plan to develop an affordable housing community in Athens-Clarke County called Athens Flats.<\p>
Fuqua among team selected for Downtown entertainment project
State officials have named a development team for a project that would build an entertainment destination next to Mercedes-Benz Stadium.<\p> The Georgia World Congress Center Authority (GWCCA) is looking to repurpose the 11-acre Home Depot Backyard. The state agency put out a request for qualifications for the project in April.<\p>
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