Last year, Downtown Atlanta underlined its position as the region’s entrepreneurial and economic hub, bursting with exciting new enterprises and avenues for growth. CAP & ADID played a pivotal role in fortifying this business landscape. Their continued participation in the Recast Leaders initiative—aimed specifically at product businesses and small-scale manufacturers—offered a comprehensive package of support over a 10-month period, covering everything from community involvement to actionable steps towards launching a business attraction program.
Further demonstrating the potency of collaboration, the Resurgence Grant Fund program by Invest Atlanta made significant strides. Funded by the American Rescue Plan Act, this program granted much-needed financial aid to over 100 small businesses and nonprofits situated Downtown—making up approximately 20% of total grant recipients.
The entrepreneurial flame in Downtown Atlanta was kept alive and thriving with the emergence of several new businesses in 2023. Residents and visitors alike enjoyed the addition of Wild Leap Brewery and the Atlanta Comedy Theater in Kenny’s Alley, while 200 Peachtree Street welcomed R3 Rosendale Concepts. Mochinut Donut Shop on John Wesley Dobbs is now open, and further south, Hotel Row was graced by the culinary delights of Tyde Tate Kitchen.
More than a bustling business district, Downtown is a dynamic community that’s evolving. At the heart of this transformation is the growing number of residents who call this place home. In 2023, over 647 residential units were created including 117 affordable and permanent supportive housing units along with onsite supportive services at Thrive Sweet Auburn developed by Project Community Connections and Mercy Housing. In all, 33,522 people live Downtown, with over 5,000 housing units planned in the next five years.
To aid in the demand for housing, CAP & ADID has partnered with HR&A Advisors to study converting office buildings Downtown into residential buildings. The study will pinpoint the physical, economic, and market drivers key to a successful conversion. Results are expected in early 2024.