Portman Holdings is the company behind the planned redevelopment of a stretch of Ponce De Leon Avenue known for its local bars and small businesses, according to a report by Atlanta Business Chronicle.
The newspaper reported that Portman is under contract with with several landlords to transform most of a block that stretches from the Paris on Ponce building to Vesta Movement gym, near Ponce City Market and the Atlanta BeltLine’s bustling Eastside Trail. Other properties along the block that have been mainstays for decades include MJQ Concourse, Friends on Ponce, Bookhouse Pub, Java Jive and The Local.
The redevelopment rumors gained traction after 8ARM restaurant announced that it would be closing in October after its BeltLine-adjacent property was sold to developer Cartel Properties. Cartel also owns Paris on Ponce. Vesta Movement, located next door to The Local, also announced in June via social media the entire block was being sold.