The Department of Housing and Urban Development has approved the redevelopment plan for Fort McPherson, a 488-acre project in Atlanta slated to feature a science and technology park, housing, open space and institutional uses.
The McPherson Implementing Local Redevelopment Authority will begin seeking opportunities for private or joint development on the site after reaching an agreement with the Army over the property’s transfer, projected to occur this summer. The authority already is actively marketing the site and hopes to announce the first tenant in the redeveloped Fort McPherson this fall.
The LRA completed the master plan with design assistance from HOK, a global architectural firm, in December 2010. Core elements of the plan include the preservation of 40 existing historic structures, the addition of 1,780 new residential units and a 30-acre event/festival space.
The site will include 21 acres for a Veterans Affairs clinic and 153 acres for green space. Three commercial buildings, previously used by the Army, offer more than 750,000 square feet of space available for occupancy as early as this fall. The remaining 314 acres will be available for sale to private developers or for a joint venture, making the site one of the single largest redevelopment opportunities in a U.S. city, according to the authority.
The science and technology center, a 127-acre district dedicated to research and innovation in the life sciences, is intended to leverage Atlanta’s strengths in the areas of vaccines, infectious disease and neuroscience. The concept — developed in collaboration with the University System of Georgia, the governor’s office, the Georgia Research Alliance and others — is expected to create 3.5 million square feet of lab, office, medical and conference space.
To download a copy of the master plan, visit the LRA’s website. (From the “Planning” menu, select “Research Master Plan.”)