Sweet Auburn Ballroom Receives Resurgens Grant
Wednesday, December 14, 2016
The Sweet Auburn Ballroom will receive the first grant from Invest Atlanta’s recently-established Resurgens Fund in the Eastside TAD. Named after the historic downtown neighborhood, the vacant former Butler Street YMCA building at 17 Jesse Hill Jr. Drive will soon be transformed into a 1,200-person capacity live music venue for established and rising artists alike.
The board was unanimous in its support for the resolution approving the $1 million grant.
“This is a transformative project for the historic Sweet Auburn neighborhood, and will attract visitors to the area for years to come” said Dawn Luke, Invest Atlanta’s Senior Vice President of Community Development.
Butler Street Community Development Corporation (“BSCDC”) and world-class venue operator Live Nation are partnering on the project. BSCDC has executed a 20-year lease with Live Nation, who will develop and manage the venue. Live Nation also runs The Tabernacle, a 2,600-person capacity music venue located near Centennial Olympic Park.
The Sweet Auburn Ballroom project is part of a larger multi-phase effort by the BSCDC to revitalize the neighborhood’s Jesse Hill block along the Atlanta Streetcar line.
The Eastside TAD includes Sweet Auburn, the Old Fourth Ward, as well as parts of Grant Park, Cabbagetown, and Downtown Atlanta. As the redevelopment agent for the Eastside TAD, Invest Atlanta supports real estate development, streetscape improvements, and new economic activity in these neighborhoods. The Resurgens Fund Grant program provides gap financing for real estate projects in these neighborhoods, while the Downtown Façade Improvement Grant program offers matching grants toward improving building exteriors.
With the help of this Resurgens Grant, the Sweet Auburn Ballroom will support the City of Atlanta’s long-held role as the region’s dominant entertainment and tourism center, create new construction and permanent jobs, and bring $5.4 million in much needed direct capital investment to this area of downtown.Tweet