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Atlanta Business Chronicle
Here are the incentives offered to lure U.S. Soccer's new HQ
Georgia officials offered $2 million to the U.S. Soccer Federation to lure its new headquarters and national training center that’s coming to Fayette County, according to an agreement signed May 10. <\p> The grant will come from Georgia Department of Community Affairs' Regional Economic Business Assistance (REBA) program, an incentive used to close deals when companies are considering other states as potential locations. <\p>
Domestic violence nonprofit raises record amount amid growing demand
The Women’s Resource Center to End Domestic Violence raised $528,000 at its annual spring fundraiser, a 51% increase over its 2023 event. <\p> Last year, the Women's Resource Center raised $350,000. <\p>
California jewelry brand expands OTP
Gorjana, the California-based jewelry brand known for its laid-back layering pieces, will open its second metro Atlanta location at Alpharetta’s Avalon.<\p> This will be Gorjana’s first venture outside of the Interstate 285 Perimeter, as its first local brick-and-mortar is nestled within Ponce City Market.<\p>
Local multifamily developer picks new CFO
A luxury multifamily housing developer has added a real estate veteran to its C-Suite as it expands its business.<\p> Atlanta-based Catalyst Development Partners has selected David Harry to serve as its chief financial officer.<\p>
Atlanta bank introduces $10M workforce housing program
A government-chartered bank based in Atlanta is committing millions of additional dollars to improving housing affordability across the Southeast.<\p> The Federal Home Loan Bank of Atlanta will launch its new Workforce Housing Plus+ Program on June 3, open to homebuyers earning between 80.01% and 120% of their local area median income.<\p>
Price tag rises 20% on proposed Grady facility
A new emergency department proposed by Grady Health System is getting more expensive.<\p> The health system expects its freestanding emergency facility planned for South Fulton County to cost $45.7 million, Grady Memorial Hospital Chief Strategy Officer Shannon Sale said in a May 17 letter to the Georgia Department of Community Health.<\p>
Lawsuit targeting small-business grant program is tossed
A judge has tossed a lawsuit targeting Progressive Insurance and small-business funding platform Hello Alice for a grant program offered to Black small business owners.<\p> The decision, handed down by the U.S. District Court for Northern Ohio, found plaintiff Nathan Roberts, owner of Cleveland-based Freedom Truck DIspatch LLC, lacked the standing to sue the companies over a grant program it offered to Black small-business owners to purchase a new truck.<\p>
Southside rakes in $65M for 31-mile trail network
Nearly $65 million in federal funding is set to flow into a 31-mile trail network proposed between Southwest Atlanta and Clayton County.<\p> The U.S. Department of Transportation awarded Atlanta Regional Commission; Clayton County; and the cities of College Park, East Point, and Hapeville with a $14.9 million grant for the Flint River Gateway Trails, according to a Wednesday news release. The announcement comes a few months after the planning organization and the four communities received a $50 million grant for the same project.<\p>
MARTA considers upgrading busiest route to BRT
MARTA is exploring what it would take to give buses their own lane on Buford Highway, a multicultural corridor now serviced by the busiest bus route in the agency's network.<\p> MARTA recently committed to DeKalb County officials that it would examine bus rapid transit as it plans to remake Buford Highway's Route 39, CEO Collie Greenwood told board members at a May 23 committee meeting.<\p>
Mental health nonprofit buys $17M hotel
A Brookhaven mental health treatment organization has spent millions to acquire property and expand its main campus. <\p> Skyland Trail in April bought a 111-key Hampton Inn & Suites along North Druid Hills Road for $17 million, according to property records. The nonprofit also purchased an adjacent restaurant property along Buford Highway late last year for $750,000, property records show. <\p>
McDonough apartments sell for $52.4M
A local investor in multifamily development has expanded its portfolio southeast of Atlanta.<\p> Buckhead-based real estate investment company ARC Multifamily Group acquired The Preston, a 42-acre apartment community situated near the heart of McDonough, for $52.4 million early this month.<\p>
Georgia Trust applauds Fox Theatre for preservation work
The Fox Theatre is well known for hosting iconic performances and concerts, but it also has a full crew working behind the scenes on a lesser-known effort — to restore historic theaters. <\p> That work is rarely in the spotlight. But this month, known as National Preservation month, the Georgia Trust for Historic Preservation presented the Fox with its inaugural Mark C. McDonald Award, named for the Georgia Trust’s former president and CEO. <\p>
Norfolk Southern board appoints new chair
The Norfolk Southern Corp. Board of Directors appointed three directors to leadership positions, including chair of the board.<\p> Claude Mongeau is now Norfolk Southern's independent chair of the board and chair of the executive committee, the Atlanta-based railroad announced May 28. <\p>
GreenSky CEO spends $12M for new philanthropy HQ
Atlanta fintech entrepreneur David Zalik just bought a new headquarters for his philanthropic work. <\p> Zalik, co-founder and CEO of fintech company GreenSky Inc., spent $12 million to purchase The Dupree building along the Atlanta Perimeter, according to Fulton County property records. A real estate affiliate of Zalik was the buyer. <\p>
Resume gaps aren't the dealbreaker they once were, but there's a catch
Job seekers worried about gaps in their resume might still have to deal with some pushback from hiring managers, but the market today has become more forgiving to such openings than it once was.<\p> According to a recent Express Employment Professionals-Harris Poll survey, while 36% of hiring managers said they might be deterred by applicants' unexplained work gaps, the vast majority (95%) believe there are valid reasons to explain career gaps. The top reasons cited were health issues, staying home with a child, going back to school and caring for an elderly parent.<\p>
Private clubs on the rise in Atlanta
Modern private clubs are a rising trend in Atlanta's retail scene.<\p> When Mandy Slater of Slater Hospitality opened L.O.A. Social Club in West Midtown a couple of years ago with her husband, Kevin Slater, the plan was always to turn it into what is now: a member’s-only space where you can work, host events or bring friends to lounge in a cabana in peace.<\p>
Atlanta long-time cultural affairs director to retire
The City of Atlanta’s Executive Director of Cultural Affairs, Camille Russell Love, announced she will retire by the end of the year. <\p> Love is considered one of the city’s arts experts. She was tapped to lead cultural programming for the City of Atlanta in 1998 and has served in that role under the leadership of five mayors. <\p>
The AI boom is coming for these at-risk manager roles
For years, front-line workers have worried about automation taking their jobs. It may end up being middle managers who are most in danger.<\p> Companies are gaining access to new artificial-intelligence tools and capabilities at the same time many are re-assessing their operations in a challenging post-pandemic economic environment. That combination of potential new efficiencies and a desire for cost savings is putting management-level employees in the crosshairs.<\p>
Atlanta home values surpass milestone
Home values in Atlanta have reached a milestone for the first time in nearly two years.<\p> The typical home in the Atlanta city limits was valued at $400,699 last month, according to Zillow Group’s (Nasdaq: ZG) Home Values Index.<\p>
National Civil Rights Center grows with ‘eye-opening’ expansion
As the National Center for Civil and Human Rights marks its 10th anniversary, the organization is not just getting older, it is becoming more influential. <\p> “One of the milestones we’re reaching is growing into this name that our founders gave us,” said Jill Savitt, president and CEO of the National Center for Civil and Human Rights. <\p>
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