12-acre downtown entertainment property worth $25.75 million to SC buyer.

Atlanta Mayor Kasim Reed at press conference planned for Wednesday will reportedly announce the sale of Underground Atlanta, according to the Atlanta Business Chronicle (ABC).

South Carolina-based WRS Inc. could have the property under contract with City of Atlanta for $25.75 million and could redevelop the mall into a mixed-used project of retail and housing, according to the report.

Mayor Reed earlier this year announced the city was in search of a buyer for the 12-acre downtown entertainment property with a “vision is to turn Underground into a residential living room.”

Read the rest of the ABC’s report here.

Developing…

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