CoStar News
Summary: CIM Group adapted its $5 billion development plans for Centennial Yards in downtown Atlanta by shifting focus from office buildings to hospitality, a move deemed essential for success by Brian McGowan, CIM’s Centennial Yards Co. president. Originally planning office construction, CIM altered course due to lingering pandemic-related impacts on office demand. Instead, they prioritized an eight-acre entertainment district and significantly increased the number of planned hotel rooms beyond initial projections. McGowan emphasized the company’s swift ability to pivot towards hospitality, highlighting the strategic agility required to adjust to evolving market conditions effectively.