Downtown Atlanta's Forge Development Advances as Webstar Secures 10-Acre Site

Forge Atlanta: A New Era of Development in Downtown Atlanta

Webstar Technology Group, Inc. and its development subsidiary, Forge Atlanta Asset Management, have officially launched the Forge Atlanta project by closing on a 10-acre parcel at Ted Turner Drive SW and Whitehall Street SW in Downtown. This marks a significant milestone for the company as it begins to transform an underutilized industrial block into a vibrant mixed-use district.

The development is located near the Garnett MARTA station and the Interstates 20/75/85, making it a strategic location for future growth. According to Webstar, the property will be redeveloped into a "high-density district for Downtown Atlanta," combining hospitality, residential ownership, retail, entertainment, and public spaces.

Phase I Details

Phase I of the project includes several key components:

• A 300-room hotel with meeting and event space
• Approximately 600 luxury condominiums
• About 60,500 square feet of retail and entertainment space

The condominium portion, valued at roughly $532 million, will be subject to standard tax assessments. Webstar plans to launch the construction phase in 2026 and begin pre-sales on the condos.

Future phases may include additional residential towers, offices, public plazas, cultural venues, and more entertainment options. The project has the potential to create a significant economic impact on the area.

Economic Impact and Job Creation

Independent analyses commissioned by the Development Authority of Fulton County estimate that Phase I will support an estimated 2,100 construction jobs and 900 permanent jobs. For the entire project, Ernst & Young modeling suggests that the multi-phase development could create 3,000 jobs and generate an economic impact of approximately $7.37 billion.

During the initial abatement period, annual tax revenue is expected to increase from roughly $14,585 to $1.8 million, with a total tax revenue of $25 million.

Financing and Digital Component

Phase I will be financed through conventional means, including a proposed $223.7 million inducement approved by the Development Authority of Fulton County, institutional loans and equity, and bond issuance.

In addition, the development team plans to introduce an optional digital-asset component that allows more people to participate in the project’s future income through a regulated token program on the independent Torch RWA platform. When token sales occur, a portion of the proceeds is expected to support a managed investment fund that helps keep HOA fees lower for future condo owners.

Project Leadership and Local Ties

The project is led by Webstar Technology Group and its subsidiary Forge Atlanta Asset Management, which together own 90 percent of the development entity. Key partners include:

• Turner & Townsend for development management
• Skanska for potential general contracting
• Skyline Engineering for in-house oversight and quality control
• Kimley-Horn as the lead engineering firm
• Nelson Worldwide for design, known for projects like The Battery Atlanta and Buckhead’s St. Regis Hotel

Notably, one principal of the development team is a Mechanicsville native and sits on the neighborhood board, underscoring the project’s local ties.

Previous Ownership and Acquisition

Previously, the property was destined to become the Artisan Yards mixed-use development. It was acquired by Urbantec Development Partners in 2022 for a mixed-use development focused on life science-related businesses. However, for more than two years, the property sat empty until Webstar announced its plan to acquire the property earlier this year.