Private equity real estate firms have teamed up with developers to answer Georgia’s request for proposals for a new transit centre to be built in downtown Atlanta.
The Georgia Department of Transportation said in a statement it received proposals from a number of developers for its Multi-Modal Passenger Terminal, including a joint venture between Chicago-based John Buck Company and Jacoby Development as well as a Hines venture with HJ Russell and the Dawson Company. Cousins Properties has also teamed up with FC Asset Services and The Integral Group to submit a third proposal.
Georgia is looking to find a master developer who will help choose the site for the terminal, determine what facilities are built for it and finance its construction. The state also hopes to attract retail, commercial and residential projects to the terminal.
The terminal will connect local and regional bus and rail networks and will serve as the hub for the region’s proposed high-speed rail service.
Georgia will select finalists for the project on 21 January. The department hopes to select a master developer team by mid-summer 2011, according to the statement.
Georgia receives proposals for transit centre
The design, financing and construction of a terminal for bus and rail traffic in downtown Atlanta attracted interest from a John Buck and Jacoby Development partnership, Cousins Properties and a Hines-HJ Russell JV.
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