11 Alive

ATLANTA — MARTA has picked a developer to build a mixed-use project at its King Memorial Station, potentially the first of several similar developments around its train stations.

Walton Communities plans 386 apartments and 13,000-square feet of retail on about four acres next to King Memorial on Decatur Street, near Georgia State University, Oakland Cemetery and the Martin Luther King Jr. National Historic site.

The property is a parking lot that was being leased to Grady Memorial Hospital. Walton Communities would enter a ground lease with MARTA. The developer would take the next year to obtain financing and probably start work on the initial design, said Amanda Rhein, MARTA’s senior director of transit oriented development.

If the King Memorial project is successful, it could help spur more investment along the Decatur Street corridor east of Georgia State.

The university is already a catalyst for real estate development in the area. A few years ago, Perennial Properties wrapped up construction on the Pencil Factory flats and shops, also near Georgia State and the King Memorial Station. {….}

Atlanta Business Chronicle