The Atlanta City Council has approved an ordinance granting Invest Atlanta an option to purchase 1029 McDaniel Street SW for $1.00. The property, currently vacant and unproductive, has been declared surplus by the city. The option allows Invest Atlanta to issue an RFP, select a developer, and convey the property to a third-party purchaser for redevelopment. The initiative aims to revitalize the Pittsburgh neighborhood and stimulate economic activity. The option expires 18 months from execution but may be extended upon evidence of a committed buyer.
This decision enables strategic redevelopment of underutilized city-owned land to foster economic growth and neighborhood revitalization. By leveraging Invest Atlanta’s redevelopment powers, the city ensures that the property is put to productive use.