One of Atlanta’s oldest Black neighborhoods just saw a local real estate company pay $40 million for a prime development site — the latest sign of new wealth pouring into properties around the Braves former ballpark.

Atlanta based Branch Properties purchased just over 4 acres in historic Summerhill for “approximately” $40 million, said Branch Chief Investment Officer Jesse Shannon. The seller was Atlanta developer Carter, the firm working with Georgia State University on projects throughout Summerhill.

Branch Properties is co-developing an 87,000-square-foot Publix Supermarket-anchored shopping center along Hank Aaron Drive. The project is part of Carter’s massive redevelopment of Summerhill.

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By Donnell Suggs, Development Reporter, Atlanta Business Chronicle

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