Centennial Yards Adds President, Momentum Builds

Atlantan Brian McGowan to Join Largest U.S. Sports & Entertainment Development

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May 20, 2021, 13:04 ET

ATLANTA, May 20, 2021 /PRNewswire/ -- The Centennial Yards Company, owner and master developer of the Centennial Yards district, a major driver in reinvigorating downtown Atlanta, announced today that it has named Brian McGowan as President.

"We are pleased Brian, an established Atlantan with a successful history of advancing economic development projects, has joined the Centennial Yards Company," said Richard Ressler, Co-Founder and Principal of CIM Group. "His experience and expertise are uniquely suited for this role, and we are confident he will assist us in attracting top corporations to the development, as well as create an exciting open-air space for dining, shopping and entertainment."

The Centennial Yards district is the largest sports and entertainment real estate project in the United States, anchored by billions of dollars of recently completed public and private investments including Mercedes-Benz Stadium, freshly renovated State Farm Arena, recently expanded Georgia World Congress Center and a renovated Centennial Olympic Park. The district has already firmly established itself as a vibrant commercial and residential area, with adjacent Castleberry Hill neighborhood adding thousands of residential units over the past decade. Centennial Yards is slated to add 12 million square feet of ground-up residential, retail, office and entertainment space, with occupancy commencing in late 2023. In addition, occupancy starting on 275,000 square feet at Centennial Yard South.

With more than 16 million annual visitors to downtown and located between Atlanta University Center, Georgia State and Georgia Tech, Centennial Yards provides a unique home for corporations seeking access to a diverse talent pool and unprecedented brand visibility in a single-building or campus environment.

Atlanta Mayor Keisha Lance Bottoms expressed support for McGowan's appointment. "The Centennial Yards development is one of the most transformative economic development opportunities in decades," said Atlanta Mayor Keisha Lance Bottoms. "It is good to know they have named a president who has experience working in Atlanta and who understands our goal of creating affordable housing and economic mobility for the people of Atlanta."

McGowan's history of success in Atlanta was a major factor in his appointment. He served as the former President and CEO of Invest Atlanta, former Executive Vice President of the Metro Atlanta Chamber of Commerce, and President and CEO of the Atlanta Beltline. Most recently, McGowan served as CEO of Greater Seattle Partners, a public-private partnership created to advance economic growth and competitiveness in one of the country's top tech markets.

"I'm thrilled to come back to the city I love and lead a team who is building one of the most impactful urban renewal projects in America," said McGowan. "Centennial Yards already is one of the most important projects in Atlanta's rich history of being an international gateway city and home to many global brands — a spectacular place to show the world our city's unique culture and how Atlanta influences everything. Equally important is that Centennial Yards has begun to create new opportunities for prosperity and inclusion – creating new jobs and housing opportunities for Atlantans."

Centennial Yards was an area previously known as 'the Gulch,' a 19^th Century railroad junction that dates back to the beginnings of the city. Over time it became a vast undeveloped area that was 40 feet below street level and consisted of railroad infrastructure and parking. There were many failed attempts to address the chronically underdeveloped area by state, city and business organizations until 2018, when the City of Atlanta approved the development plan under the majority ownership of the CIM Group. At full buildout, Centennial Yards will include over a dozen new city blocks of residential, commercial, retail and entertainment uses, spanning two MARTA stations.

About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM's diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.

Media Contact:
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SOURCE Centennial Yards Company