Webstar Unveils $3.8B Atlanta Mixed-Use Project
Groundbreaking is scheduled for mid-2026.
Webstar Technology Group along with real estate development subsidiary Forge Atlanta Asset Management has closed on the purchase of a 10-acre site in downtown Atlanta with plans to develop Forge Atlanta, a multi-phase, mixed-use project.
The project is taking shape at a former industrial site used as Gourmet Foods’ former International headquarters. Phase I calls for approximately 600 luxury condominiums, a 300-key hotel and 60,500 square feet of retail space. Future phases will include additional residential towers, affordable housing as well as entertainment spaces and public plazas.
According to the project’s website, Forge Atlanta aims to bring to market more than 2,300 residences across five towers, 600,000 square feet of office and flex space as well as a 200,000-square-foot data center. At full buildout, the property could span 8.4 million square feet. Floorplans for condos will range from one to three bedrooms with asking prices ranging from $750,000 to $2.4 million.
Early development stage
Condo presales at Forge Atlanta are planned for 2026, with the larger project targeting a mid-year groundbreaking.
Webstar, a business communications company with little real estate development experience, had previously unveiled plans for Bear Village, a 230,000-square-foot waterpark and entertainment complex also located in Georgia. But land for that project was never purchased, with previous deals falling through, Bisnow previously reported.
The developer expects the project to cost a total of $3.8 billion, with Phase I at coming in at $755.7 million. The condo component is valued at approximately $532 million. Financing for Phase I includes a proposed $223.7 million inducement approved by the Development Authority of Fulton County, alongside institutional loans, equity and bond issuances. The firm is also looking to use a token sale component on its new Torch RWA platform to finance future development phases. When someone purchases a token, a portion of the sale will go to a fund that will lower HOA fees for future condos at the property.
Webstar is working to secure more financing in the first half of next year. Kimley-Horn is serving as the lead engineering firm, with Nelson Worldwide leading the design. Skanska has been identified as a potential general contractor, and Skyline Engineering is providing in-house oversight on the project.
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The land parcel is located along Ted Turner Drive Southwest and Whitehall Street Southwest in downtown Atlanta. Forge Atlanta will be a transit-oriented development, as the property is near MARTA’s Garnett Station and access to interstates 20, 75 and 85. The Hartsfield-Jackson Atlanta airport is 10 miles away and the Georgia Aquarium is approximately 2 miles away.
Other mixed-use developments in Atlanta
There are similar projects already underway in the Atlanta area. According to a Yardi Matrix report, there were 7,530 units delivered in the metro in the first half of 2025, while 25,952 units were under construction.
At the site of a former railyard in downtown Atlanta, CIM Group is working on Centennial Yards, a $5 billion mixed-use project.
In nearby Fairburn, Ga., Portman closed on a land acquisition for Meadow Ground Village, a 332-unit community spanning nine buildings and 12,000 square feet of retail space. The community is slated for completion in June of 2027.
