Exciting New Data Center Project Coming to Atlanta!
Atlanta, get ready! A thrilling new endeavor is on the horizon as Stan Conway, a well-respected name in the real estate and development world, is embarking on a fresh journey with his newly minted company, RSC Investment Management. After spending years shaping the warehouse landscape across the Southeast, Conway is diving headfirst into the exciting realm of data centers. He’s already making waves with a massive project called the Stonewall Tell Data Center, set to pop up near Atlanta.
A Closer Look at the Big Plans
So what’s the scoop on this ambitious project? According to a recent application submitted to the Georgia Department of Community Affairs, RSC Investment Management is looking to develop an impressive 1.9 million square feet of data center space in South Fulton. This hefty development will sit on a 59-acre parcel of land snugly located south of South Fulton Parkway and east of Stonewall Tell Road. Perhaps you’ve seen it yourself, right across from an Amazon distribution center!
Though Conway has chosen to keep mum on specific details regarding his new venture, it’s clear that his firm is stepping boldly into a market that is rapidly heating up. Amidst a growing wave of data center projects before the end of 2023, Metro Atlanta is seeing a significant surge in demand, attracting operators who are keen to escape the traditional hotspot of Northern Virginia.
Why All the Buzz About Data Centers?
It’s not just a trend; the numbers speak for themselves! A report from CBRE reveals that by mid-year, developers were in the midst of launching 1.3 megawatts of new data center capacity. That’s a whopping 76% increase from the latter half of last year. With further construction lined up, Metro Atlanta’s data center inventory is poised to more than double, showing a staggering 118% increase since 2020.
Joining Conway in this bustling landscape are other noteworthy players like Edged Energy, DataBank, and DC Blox, each working on exciting data center campuses in the Atlanta area. Additionally, Strategic Real Estate Partners recently pushed their plans to develop a colossal 2.1 million square feet data center campus on over 300 acres in Palmetto, not far from a new Microsoft data center complex worth $500 million!
What’s in Store for the Future?
In light of all this ongoing action, Metro Atlanta is gearing up to potentially become the second-largest data center market in the United States! However, it’s not all smooth sailing. Local municipalities are becoming increasingly wary, prompting a summer ban on data center developments near the Atlanta BeltLine. This popular area has turned into a hotspot for revitalized real estate, so it’s not surprising leaders are keeping a close eye on new projects.
Furthermore, earlier this year, a state bill designed to delay a sales and use tax break until 2026 hit the legislature, but was met with a swift veto from Governor Brian Kemp. There’s clearly a lot of moving parts as all these exciting developments move forward.
Looking Ahead
If Conway receives the necessary rezoning approvals, there’s potential for the Stonewall Tell Data Center campus to be operational by 2033. A lot can happen in the world of development and construction, so keep your eyes peeled on this fascinating unfolding story in Atlanta!
As these new projects and developments roll out, one thing is certain: The future of data handling is bright in Atlanta, and we can’t wait to see how this plays out! With the right moves, Stan Conway and RSC Investment Management could very well be at the forefront of this exciting new chapter.
