Centennial Yards

For decades, downtown Atlanta was marked by a vast undeveloped area known as “the Gulch.” The site had once been home to a pivotal rail hub that positioned Atlanta as a major transportation center more than a century ago. While rail operations continued in the area, changes to its original structure created an underused space in a prime downtown location.

In 2019, we announced plans for Centennial Yards, a landmark 50-acre development set to transform Atlanta’s core with blocks of world-class residential, retail and entertainment attractions. One of the most complex and significant city center developments in the Southeast, Centennial Yards is being developed by CIM and the City of Atlanta through one of the largest public-private partnerships in the United States.

Transformational Progress
‍Our team worked with the City to outline a vision for Centennial Yards as a vibrant, mixed-use community featuring residential units, retail and entertainment establishments, community gathering spaces and more. Today, that vision is coming to life.

Hotel
‍Centennial Yards’ 19-story Hotel Phoenix was built from the ground up on the site where Atlanta’s history began. Named for the mythical phoenix symbolizing the rebirth of downtown Atlanta, the hotel features 292 rooms and opened its doors to guests in December 2025. Zephyr, a French brasserie-inspired restaurant, and Bless Your Heart, a vibrant pool deck bar, offer hotel guests and visitors a distinctive hospitality experience.

Scheduled for a 2027 debut, a Virgin Hotel will serve as a cornerstone in Centennial Yards’ entertainment district. The property’s 261 rooms will feature Virgin’s signature ‘Chambers’ concept, with each room offering a multi-functional space that allows for rest, work and play in a stylish setting.

Residential
‍The first ground-up residential building completed at Centennial Yards, The Mitchell, opened its doors in early September 2025. ‍The 19-story luxury apartment building brings 304 modern residences to the heart of Centennial Yards. The building’s 16,000 square feet of ground-floor retail space will house The Busy Bee, an Atlanta soul food icon; and Thai tapas restaurant Khao Thai Isan, providing residents with convenient access to these sought-after culinary offerings.

The Lofts at Centennial Yards South, comprising 162 modern units in the former Norfolk Southern Railway headquarters, opened in 2021.

Entertainment & Dining
‍In July 2024, Centennial Yards broke ground on a thoughtfully designed, approximately eight-acre entertainment hub for residents and visitors. Situated across the street from State Farm Arena and Mercedes-Benz Stadium, the entertainment district hosted more than 100,000 World Cup fans during the June 2026 events in Atlanta. The district is currently home to tenants such as the immersive entertainment venue Cosm, The Irish Exit pub and Shake Shack. Live Nation is set to bolster the entertainment experience when it opens in 2027, delivering a wide range of performances in a 5,300-seat, state-of-the-art venue.

Additional offerings now open at Centennial Yards include Wild Leap Brewery and Steele Bridge, a 500-foot pedestrian bridge connecting the two sides of downtown Atlanta that has hosted multiple special events. Iconic Atlanta steakhouse Chops Lobster Bar has committed to open at the property, along with popular Neapolitan pizzeria Varuni Napoli, The Busy Bee and Khao Thai Isan, further strengthening the district’s status as a culinary destination.

CIM’s Impact
‍Centennial Yards has already helped to stimulate economic activity in downtown Atlanta. Construction of Hotel Phoenix and The Mitchell created 1,600 construction jobs, and an estimated 300 jobs will be supported annually through ongoing operations.¹ By adding jobs, new residential units, and a varied array of dining and entertainment destinations, the project brings renewed life and activity to the area.

Centennial Yards was distinguished with three 2026 CoStar Impact Awards: “Commercial Development of the Year” for Hotel Phoenix Atlanta, “Multifamily Development of the Year” for The Mitchell, and “Lease of the Year” for Live Nation Entertainment. The CoStar Impact Awards celebrate excellence in commercial real estate projects and transactions.²

Since Centennial Yards was conceptualized, community and environmental impact have been key considerations. Our initiatives for Centennial Yards include dedicating 20% of residential units to affordable housing and targeting 38% participation from minority, small and female-owned businesses. The property further supports ongoing philanthropic endeavors and volunteer initiatives to strengthen local organizations and communities.

Centennial Yards Today
‍CIM created Centennial Yards Company to act as the owner and master developer for this $5 billion mixed-use destination, and continues to apply broad experience in owning, developing, repositioning and operating properties to propel Centennial Yards forward. Our Development, Construction, Leasing and Property Management teams continue to work collaboratively to bring each phase of the project to life and further integrate with the Atlanta community.

At Centennial Yards, CIM’s vision for urban revitalization in Atlanta is truly coming to life. With many destinations open and numerous others on the way, Centennial Yards is creating momentum for widespread transformation in downtown Atlanta, blending the city's rich history and cultural spirit into a world-class destination.