Mayor Signs Closing Documents on Sale of City Hall East

July 1st, 2011

By Jim Burress

Atlanta, GA – After years of negotiations and changing plans for Atlanta’s massive building on Ponce de Leon Ave., City Hall East, Mayor Kasim Reed tells WABE the city is finally turning over ownership of the building.

Reed confirmed he closed the deal on Wednesday, more than eight months after the city council agreed to a $27-million dollar price tag.

“I signed the closing documents for City Hall East, which is going to be a transformational project,” Reed said. “So my mind is already on to finalizing the City Hall East transaction, which I think is going to be transformational to the Ponce de Leon corridor.”

A spokesperson for Jamestown Properties, the parent company of the project’s developer, declined to comment or offer further details on a timeline for the project.

Recently unveiled plans call for transforming the 2-million square foot building into a mix of retail, office, and restaurant space. That’s a large departure from original plans, which included a host of new condominiums.

Long known as the “Sears Building” before the city purchased it, the new development will be called “Ponce City Market.”