Editor’s note: This post was written by staff writers J. Scott Trubey and Kristina Torres.
Perhaps the second time will be the charm for a Hard Rock Hotel near downtown Atlanta.
Hard Rock International and the city of Atlanta announced plans Monday for a 220-room hotel near the new Atlanta Falcons stadium in the Castleberry Hill neighborhood. It will rise along Centennial Olympic Park Drive.
The developer is firm called Bolton Atlanta LP.
“We’re thrilled to announce our collaboration with Hard Rock International as part of the Castleberry Park development, an EB-5 project” said Frank Chen, general manager of Bolton Atlanta, LP, the ownership group for the Castleberry Park development project.The EB-5 program is designed encourage foreign investment in the U.S. by offering eligible entrepreneurs residency if they meet certain job-creation and investment requirements.
“The area’s energetic atmosphere and history of embracing artistic endeavors aligns well with the Hard Rock Hotel product and we’re sure the upcoming property will quickly become the go-to entertainment and leisure destination,” Chen said.
Jim Allen, chairman of Hard Rock International, actually broke the news today during testimony before a legislative hearing on casinos in Savannah. He spoke on behalf of gambling, but said the new Hard Rock Hotel will come to Atlanta whether casinos are approved or not.
A previous attempt by a development firm to build a Hard Rock Hotel downtown fizzled out with the recession.
But development interest in the city’s core is surging.
Mayor Kasim Reed and the Hawks confirmed talks last month about a deal to renovate the Philips Arena. Reed called it a $150 million to $250 million project that might, among other things, undo the wall of suites that is out of fashion in the NBA.
At the time he also hinted at $500 million to $1 billion in new development in the pipeline around the Philips Arena area.