DOWNTOWN—A proposed $3.8-billion megaproject spread across 10 quiet acres of downtown Atlanta appears to be on increasingly shaky ground, with one hopeful investor leveling accusations that Forge Atlanta is a “scam” and “Ponzi scheme.”
According to a new report from Bisnow Atlanta, fledgling tech company Webstar Technology Group is facing complaints filed with the Securities and Exchange Commission, FBI, Financial Industry Regulatory Authority, and local police departments alleging that would-be investors were bilked of money they thought was going to Webstar shares.
Webstar’s attorney, meanwhile, is dismissing the complaints as a “nothing burger” sparked by past media coverage and insisting the Forge Atlanta project continues to make progress and is on the verge of turning a corner, per Bisnow.
Daytime rendering of the high-rise Forge Atlanta proposal between Interstate 20 (bottom) and Mercedes-Benz Stadium.Renderings courtesy of Forge Asset Management/Webstar Technology Group
Forge Atlanta’s scope calls for more than 8 million square feet of development eventually, a larger imprint on downtown than Centennial Yards. The $756-million initial phase, for which Webstar has been trying to secure financing, would include roughly 600 for-sale, luxury condo units, a 300-room hotel, and about 60,500 square feet for retail and entertainment, as Webstar reps relayed in December, when announcing the land purchase south of Mercedes-Benz Stadium near Interstate 20.
Develop Fulton, the Fulton County economic development authority, approved a nearly $224-million incentive package for Forge Atlanta in October that would lend tax breaks to the project’s first phase, should it deliver as planned.
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CITYWIDE—Atlanta’s once-in-a-lifetime opportunity to deploy cutting-edge new MARTA trains and make a dazzling first impression with visitors from about the world appears to be in jeopardy. With a month to go before downtown’s final 2026 FIFA World Cup match, MARTA officials have no definitive timeline for when the first new CQ400 trains from Swiss manufacturer Stadler will go into service, after an earlier rollout planned for June 4 was cancelled, the AJC reports.
Deploying the modernized railcars before the end of World Cup festivities in Atlanta doesn’t appear likely, as MARTA still has not submitted finalized paperwork to Georgia Department of Transportation officials that certifies the trains as passenger-ready and safe. That’s the first step in a state-regulation process than can take up to 30 days, the news outlet reports.
One of the new CQ400 railcars on MARTA's tracks. Courtesy of MARTA
Inside the more open and digitized new CQ400 trains bound for MARTA's system. Courtesy of MARTA
MARTA’s interim general manager and CEO, Jonathan Hunt, told the AJC the paperwork is expected to be submitted to state officials within a couple of weeks, and that MARTA staffers who’ve had a hand in the train deployment are heartbroken by the delay.
On a brighter note, MARTA and Stadler’s previously rocky relationship is reportedly on better terms now, and the $707-million new railcar project will meet the highest safety standards once CQ400 trains do start rolling, per MARTA’s chief.
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JOHNS CREEK—Medley, a 43-acre mixed-use community in Johns Creek that hopes to create a downtown district and sense of place, recently marked a significant milestone with the debut of a Trader Joe’s outpost.
Situated at 1000 Medley Boulevard, just off McGinnis Ferry Road and Johns Creek Parkway, the Trader Joe’s grocer officially debuted last week, marking the company’s first location in the north Fulton County city. It’s open every day from 9 a.m. to 9 p.m.
Toro Development Company officials report Medley has now leased 78 percent of retail and 82 percent of its office space, prior to a phase-one grand opening set for Oct. 29. Plans also call for more than 880 luxury residences eventually—a mix of townhomes and apartments—alongside a 25,000-square-foot public plaza designed to host up to 200 events each year.
Medley’s second phase, dubbed “Encore,” officially broke ground in April.
Overview of Medley’s Encore section, where more than 400 multifamily dwellings and an additional 20,000 square feet of retail are planned. Courtesy of Toro Development Company
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SUMMERHILL—An award-winning Summerhill infill project we’ve been tracking since inception has again reduced prices in its long quest to sell out along swingin’ Georgia Avenue.
The three remaining unsold townhomes at Ten 5 Summerhill are now priced between $615,000 and $645,000 (the highest price includes a bonus room). All have two bedrooms, two full bathrooms, two half-bathrooms, and rooftop decks.
As seen during construction in 2024, the project's proximity to Phoenix Park, at top. Wes Cummings, RealKit Photography; courtesy of Keller Williams Intown Atlanta
As seen in 2024, passageway to the project's small parking lot between two buildings, along Martin Street. Josh Green/Urbanize Atlanta
The Xmetrical-designed project delivered 10 townhomes at the formerly vacant, southwest corner of Georgia Avenue’s intersection with Martin Street, adding to Summerhill’s commercial and residential explosion near the Atlanta Braves' former stadium. It started coming to market in summer 2024.
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