Microsoft is officially putting the breaks on the 90-acre campus, that was planned for the Westside of Atlanta. The decision is part of companywide changes in business priorities to cut costs amid worsening economic conditions, which Microsoft announced the week of 1/29/2023. Microsoft is cutting 5% of its overall workforce, or around 10,000 employees, along with reevaluating its global real estate footprint.
Microsoft is not selling the land and intends to re-engage in planning efforts if expansion is warranted, a company spokesperson said. Vendors were notified of the decision this week. Microsoft announced it was planning a 90-acre expansion to Grove Park in early 2021, where it intended to build its next corporate campus that could house around 15,000 employees. The company was engaged with the neighborhood from the start of the process and decided to set aside 25% of the land for community needs, including affordable housing, a grocery store, pharmacy and resources for job training opportunities. The site is next to the Bankhead MARTA station.
Home values in the area began rising quickly after Microsoft announced its commitment. Within months, around 95% of homes in the neighborhood that were on the market went under contract, according to a 2021 study released by Urban Land Institute, a nonprofit research group focused on planning and development.
With Microsoft pausing their developmental plans, what does this mean for the local residents who were uprooted from their homes? What does this mean for the Grove Park community, and how will this dictate home values in the near future? We're looking forward to seeing how this one, will play out.