Amsterdam Walk tax break; Centennial Yards signing; e-bike bonanza!

VIRGINIA-HIGHLAND—As concerned neighbors have pointed out, veteran Atlanta real estate developer Portman Holdings is scheduled to formally ask for additional taxpayer funding this week to help pull together a contested, multi-phase development at the cusp of two marquee city attractions, the Beltline and Piedmont Park.  

According to a meeting agenda, Portman officials plan to ask the Invest Atlanta Board on Thursday for a nearly $15 million tax break to assist in covering costs for a portion of the first apartments planned at the former 19th century industrial district turned longstanding retail hub.  

Portman has calculated the initial phase of Amsterdam Walk redevelopment will cost $327 million—and that the developer will lose roughly a quarter-billion dollars over the next 99 years, the term that some apartments are set to be locked in as relatively affordable, as the AJC first relayed. 

Last year, the Amsterdam Walk project received a $2-million Beltline Tax Allocation District grant and $19.3 million in tax-exempt bond financing to help fund construction of a 135-unit multifamily section of the development. 

The Invest Atlanta filing indicates Amsterdam Walk’s phase-one construction will take 31 months, finishing in 2029. 

All told, 39 apartments in the initial Amsterdam Walk development in question this week will be rent-restricted at 80 percent of the Area Median Income for 99 years, “providing long-term affordable housing for Atlanta residents in a predominantly market-rate neighborhood where affordable housing opportunities are limited,” per the Invest Atlanta filing. That’s a little more than 7 percent of the 539 multifamily housing units planned for phase one. 

Find other updated renderings and site plans for Portman’s Amsterdam Walk vision over here. 

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DOWNTOWN—Leasing momentum continues at $5-billion downtown megaproject Centennial Yards, where a dueling-piano bar concept with deep roots in Atlanta plans to open its second location across the street from the city’s main sports arenas. 

Park Bench, founded in 1994 as a cornerstone of Buckhead’s raucous party era, has signed a lease for its second location at Centennial Yards’ 7 and 1/2-acre Entertainment District. Today Park Bench operates at The Battery Atlanta, near the Braves’ stadium in Cobb County. 

“Park Bench has spent 32 years giving Atlanta a place to sing along with a live band, and downtown is where the city’s energy is headed next,” Larry Hall, Park Bench founder and owner, said in an announcement. “Being steps from Mercedes-Benz Stadium and State Farm Arena, inside a district built around live entertainment, is exactly where we want to be.”

We’ve asked for additional details on the Centennial Yards’ Park Bench location—including ETA, how large the space will be, and exactly where it will be located—and we’ll update this story should that come.

Developers CIM Group and Centennial Yards Company are predicting 2027 will be a big year for the Entertainment District, with scheduled openings set to include: the 5,300-seat Live Nation venue and a 261-key Virgin Hotel, along with restaurants The Busy Bee Café and Khao Thai Isan on tap for the base of The Mitchell apartment building.

The Entertainment District started opening this summer in time for 2026 FIFA World Cup festivities, with a roster that now includes Cosm, Shake Shack, and The Irish Exit. 

Additional signings at the Entertainment District include Chops Lobster Bar and Varuni Napoli. 

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DOWNTOWN—Mark your calendars, alternate transportation enthusiasts of Atlanta: Propel ATL is hosting an event called E-Bike Day next week that’s designed to whip up interest in the two-wheel transport and recreation method, answer any questions, and provide test rides.  

The free E-Bike Day is scheduled from 6:15 to 8:30 p.m. Monday, Sept. 21 at The Home Depot Backyard (where the Georgia Dome used to stand downtown). Find more details and RSVP right here.

The timing is significant in that the applications portal for the second Atlanta E-Bike Rebate Program is set to close the following day, Sept. 22. 

According to the transportation safety advocates at Propel ATL (formerly Atlanta Bicycle Coalition), E-Bike Day will serve to answer questions and provide guidance about the rebate program before the deadline. It will also “bring together Atlantans who are curious about e-bikes for an evening of test rides, a beginner-friendly e-bike class, and a community ride,” per Propel ATL leaders. “Local bike shops will be on hand to help attendees compare different e-bike models, ask questions, and learn more about riding an e-bike for everyday trips.”

Sounds like a winner. 

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SWEET AUBURN—One of the most cherished buildings in Atlanta’s historic Sweet Auburn district—a formerly endangered corner landmark that once housed Dr. Martin Luther King Jr.’s office—has taken a significant step toward protections in perpetuity.  

Preservationists with Easements Atlanta recently announced they’ve accepted a preservation easement on the Prince Hall Grand Lodge at 330 Auburn Ave. NE, a restored 1937 structure now expected to draw hundreds of thousands of annual tourists in the shadow of downtown. 

“This [easement] project represents a significant preservation milestone [for Prince Hall Grand Lodge]—protecting not only the exterior but also significant interior spaces of the building for the first time in Easements Atlanta’s history,” officials recently relayed. 

Easements Atlanta is crediting a partnership with the Most Worshipful Prince Hall Grand Lodge of Georgia, Trust for Public Land, and funding from the National Park Service’s African American Civil Rights Grant Program with making the protections possible. 

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