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Owner of Underground Atlanta moves forward on adding 30-story tower to historic landmark

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Owner of Underground Atlanta moves forward on adding 30-story tower to historic landmark


Lalani Ventures, owner of Underground Atlanta, announced they’d be building a new mixed-income tower at the historic landmark.

In partnership with Exact Capital, Lalani Ventures is planning to add a 30-story tower at the location, which they say will be the first new development at the site in decades.

On Thursday, Invest Atlanta’s board voted to approve a $40 million tax-exempt bond issuance for Underground Atlanta’s new tower as assistance to finance 163 affordable housing units at the mixed-income tower.

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“Having opened my clothing store, Rowdy, at Underground in the ‘90s, it’s great to see the iconic destination’s entertainment, music and arts come back, complemented with this new mixed-income housing building. That will be a game changer for the area,” Dallas Austin, the Grammy award winning R&B, hip hop, pop and rock producer, 2019 Songwriter Hall of Fame Inductee, film producer and the founder of Rowdy Records, said of the news.

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In total, the building will have more than 400 housing units inside.

“The Invest Atlanta board will have an opportunity to review the project again before providing its final resolution in advance of the project closing on its construction loan next year,” a representative for Lalani Ventures said in a statement.

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The full cost of the venture will be an estimated $160 million, with Lalani Ventures and Exact Capital leading development through a joint venture partnership.

“We think this will be the most impactful joint venture in downtown Atlanta,” Craig Livingston, Exact Capital’s Managing Partner, said.

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For the 163 affordable units, households at or below 60% of the area median income in Atlanta will be eligible for residence. All of the units in the tower will share the amenities, according to the announcement.

“We’re grateful for the support of Invest Atlanta and the City of Atlanta. The vote on Sept. 19 was an important step in the process. Going vertical allows us to build a beautiful new residential community in downtown Atlanta at Underground,” Lalani Ventures and Underground Atlanta owner Shaneel Lalani said. “This is part of our overall vision to create Atlanta’s top arts and entertainment community. Having residents live right here will create more vibrancy for this beloved property with historic roots, which in turn will have a great impact on downtown Atlanta.”

The companies expect to break ground on the new tower before the end of 2025.

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Atlanta, GA

Metro Atlanta gas prices surge ahead of spring break, leaving drivers stunned

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Metro Atlanta gas prices surge ahead of spring break, leaving drivers stunned


Drivers across metro Atlanta are seeing higher prices at the pump, and as spring break approaches, many families say the spike is hitting their budgets hard. While some people are reconsidering travel plans, others said they are still planning to get out of town.

At a RaceTrac gas station near Clairmont Road and Dresden Drive in Chamblee, drivers told us they noticed the increase almost immediately.

Just last week, many drivers said they were paying around $2.80 a gallon. Now, prices at some stations are climbing well over $3 a gallon.

At this RaceTrac, regular gas was listed at $3.59 a gallon while diesel was even higher at $5.19. Last week, those prices were $3.29 for regular-and $4.69 for diesel.

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Some drivers said the increase is already creating financial stress.

“Not that many people can afford that price.”

Morgan Howard explained.

The metro Atlanta mom of two who commutes to work said she closely tracks fuel prices because of how much she drives.

“I pay attention to gas because I work over here but I live in Villa Rica or like Douglasville and the prices even went over there up. Ridiculous. It is sad.”

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According to the AAA, the average price for gas in Atlanta is now about $3.28 a gallon, which is up roughly 44 cents from last week. Meanwhile, analysts with GasBuddy project prices could increase another 20 to 50 cents in the coming week.

Howard said her biggest concern isn’t just her own budget.

“I don’t think about myself. I think about others that are struggling. I think about others that are making minimum wage and can’t not afford.”

Higher gas prices can ripple through nearly every part of daily life from commuting to grocery costs.

Truck driver Logan Gabbard said the increase has already forced him to cancel travel plans he had for later this month.

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“I was going to make plans at the end of March but since gas prices have went up as much as they have I can’t go through with those plans now just because usually it would take me 50 to 70 dollars to go where I usually go but now it is going to cost me so much that I am not going to be able to go.”

Another group feeling the impact is ride-share drivers who say rising fuel costs are forcing them to work longer hours.

“Because I was putting the mid range at $3.02 and now is almost at $4 and this is making us work more. Yes this is impacting us, now we need to work more and more hour’s in order to get better gains to be able to afford bills and payments, like rent, services and food is getting more expensive as well, for the people who work doing rideshares like Uber, Lyft and Taxi,” Ian Marin said.

“We have a taxi line near this gas station and a lot of drivers made the decision to retire from doing this profession because gains are not enough, people have fear to be out in the streets, but the price for food, bills, and rent keep going up making this situation really really complicated, “Marin explained.

Despite the higher prices, not everyone is putting the brakes on travel.

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With the spring break season arriving, some college students said they are still planning to hit the road.

Analysts said part of the price swing is tied to tensions in the Middle East involving the United States, Israel and Iran, which can make global oil markets unstable and push oil prices higher.

International tensions are not the only factor.

AAA said gas prices often increase during busy travel seasons like spring break, when more people are hitting the road.

The drivers we talked to said that means they will be keeping a closer eye on their budgets in the weeks ahead and  watching every mile and every dollar a little more closely.

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Atlanta, GA

NBA cancels Hawks’ plans to celebrate Atlanta strip club

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NBA cancels Hawks’ plans to celebrate Atlanta strip club


Magic City Night in Atlanta is off.

The NBA has canceled the Atlanta Hawks’ plans for a celebration of the city’s Magic City adult entertainment club, saying Monday that it was responding to concerns from many across the league.

The event was supposed to happen next Monday during a game against the Orlando Magic.

Atlanta announced the plan last month, calling it a tribute to an “iconic cultural institution” with food — including the club’s lemon pepper wings, a version of which is named for former Hawks guard Lou Williams — along with music and exclusive merchandise.

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“While we are very disappointed in the NBA’s decision to cancel our Magic City Night promotion, we fully respect its decision,” the Hawks said Monday. “As a franchise, we remain committed to celebrating the best of Atlanta — with authenticity — in ways that continue to unite and bring us all together.”

Some elements of the plans for the night will remain, the Hawks said, including a halftime performance from rapper T.I. — and there are plans for lemon pepper wings to be sold.

But some plans for merchandise have been scrapped, as has a live recording of a podcast that was to feature Hawks primary owner Jami Gertz, T.I. and Magic City founder Michael Barney.

Plans for the celebration were met with mixed reactions — some for, some against. One NBA player, Luke Kornet of the San Antonio Spurs, spoke out about the idea of promoting a strip club and urged the parties involved to reconsider.

And the league evidently heard the same message from others.

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READ MORE: Terry Rozier will not receive salary while on leave from NBA, AP reports

“When we became aware of the Atlanta Hawks’ scheduled promotion, we reached out to Hawks leadership to better understand their plans and rationale,” NBA Commissioner Adam Silver said. “While we appreciate the team’s perspective and their desire to move forward, we have heard significant concerns from a broad array of league stakeholders, including fans, partners and employees.

“I believe canceling this promotion is the right decision for the broader NBA community.”

The Hawks have ties to the club. Gertz was a producer for a five-part docuseries that explored the club’s history, its place in Black and hip-hop culture and what it means to the city.

“This collaboration and theme night is very meaningful to me after all the work that we did to put together ‘Magic City: An American Fantasy,’” Gertz, who is also a filmmaker and actor, said when the promotion was announced. “The iconic Atlanta institution has made such an incredible impact on our city and its unique culture.”

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Atlanta, GA

Atlanta ranks 78th on WalletHub’s most diverse cities list

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Atlanta ranks 78th on WalletHub’s most diverse cities list


A new study suggests Atlanta may not be as diverse as many people might expect — at least when compared with cities across the country.

What we know:

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According to a new report from WalletHub, Atlanta ranked 78th out of 501 U.S. cities in an analysis measuring diversity across several categories. Researchers looked at five main factors including socioeconomic, cultural, economic, household and religious diversity.

Atlanta performed best in religious diversity, ranking 9th, and socioeconomic diversity, where it came in 45th. But the city placed 178th for cultural diversity and landed near the bottom — in the 400s — for both household diversity and economic diversity.

It’s worth noting the study focused only on the city of Atlanta and did not include the broader metro area, which could paint a different picture of the region’s diversity.

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By the numbers:

Some other Georgia cities also appeared on the list. Sandy Springs ranked 38th, Roswell placed 57th, and Columbus came in at 103rd. Meanwhile, Johns Creek ranked 94th overall and finished 500th in income diversity, one of the lowest marks in that category.

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Dig deeper:

The study found the most diverse cities in the country were Silver Spring, Maryland; Gaithersburg, Maryland; Arlington, Texas; Germantown, Maryland; and Houston, Texas. At the other end of the list were Bangor, Maine; Brattleboro, Vermont; North Platte, Nebraska; Keene, New Hampshire; and Rochester, Nebraska.

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