Year-to-date as of November 2016
Construction has officially begun on the 25-story Coda tower between Spring and West Peachtree Streets in Midtown. Once operational, the high performance computing center within Coda will strengthen Atlanta’s position as a global technology hub, foster new collaboration between those in private industry and academic research, and attract new talent to the area.
The center will serve those looking to use advanced computer modeling and simulation capabilities to enhance their work, from Georgia Tech researchers to financial modelers to biotech startups.
“This year, we have seen four Fortune 500 companies locate or expand significant IT centers in Atlanta, bringing nearly 5,000 new jobs to the city,” said Mayor Reed. “Coda’s advanced technology resources will be an invaluable asset for attracting the world’s top tech professionals and keeping more of our talented students in Atlanta after graduation. I am eager to see the world-changing innovations that will come out of this first-class facility.”
Beyond strengthening Atlanta’s reputation as a tech hub, the computing center offers other benefits. With access to a sophisticated modeling and simulation resource, Atlanta’s students, faculty, and tech entrepreneurs will be better equipped to conduct research and commercialize new applications. The computing center will also further elevate Georgia Tech’s reputation as one of the world’s top engineering and research institutes.
In August, the Invest Atlanta board approved the issuance of up to $440 million in bonds to support the creation of the 90,000 square-foot data center. The overall mixed-use Coda project, currently scheduled to open in late 2018, will create an estimated 2,400 new jobs and will produce an estimated total economic impact of $813.8 million over the next two decades.
Portman Holdings’ design for Coda incorporates the historic Crum & Foster building, an early 20th-century office building. Georgia Tech will be the anchor tenant, with corporations and research partners occupying the rest of the office and retail space.
Construction Begins on Major New Development on Atlanta BeltLine
725 Ponce, the latest major development along the Atlanta BeltLine, broke ground on December 14, 2106 at a ceremony celebrating the start of construction on an “urban prototype” Kroger grocery store and a 360,000 square-foot office tower.
Top-Quality Affordable Senior Housing Opens in Old Fourth Ward
The first phase of City Lights, a new affordable housing community reserved for seniors, celebrated its grand opening on December 15. The 80-unit complex is located on Boulevard in the City of Atlanta’s Old Fourth Ward neighborhood.
Invest Atlanta Holds First “Family Day” Event
Last month before the December holidays, Invest Atlanta opened its doors to family members of Invest Atlanta employees. For this first-ever Family Day event, staff was invited to bring their kids, spouse, siblings, parents and other family members for a morning of fun and holiday refreshments at Invest Atlanta.