City of Atlanta Partners with Controversial CIM Group

The report examines the 'Gulch' redevelopment project in downtown Atlanta, where the city provided significant tax breaks to the LA-based private equity firm CIM Group. It highlights that CIM Group reneged on its affordable housing commitments in October 2024, opting instead to pay an $8 million fee that advocates claim was based on outdated figures. The text frames this as part of a broader pattern of private equity infiltration in Atlanta's housing market and calls for greater city official accountability in vetting corporate partners.

• The City of Atlanta provided the CIM Group with nearly $2 billion in sales and property tax breaks for the redevelopment of the 40-acre Gulch area, a project with initial estimates around $5 billion.
• In October 2024, the CIM Group abandoned the affordable housing portion of its agreement with the city, choosing to pay an $8 million fee instead, which housing advocates argue was insufficient due to the use of outdated figures.
• The project, which rebranded the Gulch as Centennial Yards, faced opposition from a coalition called 'Redlight the Gulch' and has been linked to allegations of gentrification and tenant mistreatment by the CIM Group.

APA

Private Equity Stakeholder Project (2025). City of Atlanta Partners with Controversial CIM Group. https://pestakeholder.org/reports/city-of-atlanta-partners-with-controversial-cim-group/

Chicago

Private Equity Stakeholder Project. City of Atlanta Partners with Controversial CIM Group. 2025. https://pestakeholder.org/reports/city-of-atlanta-partners-with-controversial-cim-group/.

Wikipedia

{{cite report |author=Private Equity Stakeholder Project |title=City of Atlanta Partners with Controversial CIM Group |date=22 May 2025 |url=https://pestakeholder.org/reports/city-of-atlanta-partners-with-controversial-cim-group/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{privateequitystakeholderproject2025city, author = {{Private Equity Stakeholder Project}}, title = {{City of Atlanta Partners with Controversial CIM Group}}, institution = {Private Equity Stakeholder Project}, year = {2025}, month = may, url = {https://pestakeholder.org/reports/city-of-atlanta-partners-with-controversial-cim-group/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }