Real estate firm RCP Companies has recently announced a behemoth project for Atlanta residents. They plan on opening Jodeco | Atlanta South, a sprawling epicenter of eateries and shopping centers in the bustling state capital.
The plan includes a 12,000 Mt. Olive Market food hall, an entertainment hub, an outdoor fitness and recreation area, two luxury hotels, hundreds of retail stores, and 600 residential units.
All in all, this $300 million development will span over 500,000 square feet.
In addition, RCP officials say the plan includes a 38-acre park that boasts a natural wetland preserve, multi-purpose lawns, an outdoor amphitheater, boardwalks, bike paths, and nature trails.
To put the size of this project in perspective, about 70% of commercial buildings are smaller than 10,000 square feet in size and valued at under $2.5 million.
As reported on AL.com, RCP’s Director of Acquisitions and Asset Management Odie Fakhouri explained the motivation behind the project in a statement, “Our plans for Jodeco | Atlanta South speak to the unique market opportunities that exist in the region and the growing demand for experiential projects that deliver a positive impact in the community.”
The epicenter of fun and shopping will be near Interstate 75 at Exit 222 in Henry Country, and contractors hope to break ground in the late summer. The goal is to open to the public as soon as mid-2017.
This isn’t the only project for RCP Companies. They also have plans for an urban renewal and development project to revitalize a portion of MidCity Huntsville.
They are taking a portion of the land the city does not need and re-vamping it into commercial and office space. There will be at least one hotel, retail store, and multi-family unit.
A full 70% of the businesses brought to the project will be new to the Huntsville area.