Centennial Yards construction milestone: Hotel Phoenix reaches full height as downtown redevelopment accelerates before World Cup

A second major tower reaches its structural peak in Atlanta’s former “Gulch”

Another prominent building within Atlanta’s Centennial Yards redevelopment has reached its maximum structural height, marking a visible construction milestone on the long-planned transformation of the former rail-and-parking expanse west of downtown’s core. The newly topped-out structure is the 292-room Hotel Phoenix, an 18-story project rising directly across from Mercedes-Benz Stadium and near State Farm Arena.

Topping out typically signals the completion of a building’s primary structural frame, after which work shifts more heavily to interior buildouts, building systems, and façade and site finishing. Centennial Yards leaders have indicated that Hotel Phoenix’s construction team will now focus on interior work with an opening target that has been framed around 2025 timelines.

How Hotel Phoenix fits into the first wave of new high-rises

Hotel Phoenix is the sibling project to The Mitchell, the 304-unit residential tower that previously reached full height and later opened in 2025 as Centennial Yards’ first newly completed residential high-rise. Together, the two towers represent the first ground-up high-rise buildings to rise from the Centennial Yards master plan, which is designed to remake roughly 50 acres of central Atlanta with a mix of housing, hotels, retail, and entertainment uses.

Project descriptions for Hotel Phoenix include event and meeting space, multiple food-and-beverage venues, and outdoor amenities. The development team has also described design elements intended to reference Atlanta’s rail history, reflecting the site’s proximity to active tracks and the city’s historic rail origins.

Broader Centennial Yards activity ahead of the 2026 FIFA World Cup

The topping-out arrives as Centennial Yards continues construction and leasing activity tied to a wider buildout schedule that intersects with Atlanta’s role as a host city for the 2026 FIFA World Cup, with matches planned at Mercedes-Benz Stadium beginning in June 2026.

In addition to the two high-rise towers, Centennial Yards’ next phase includes an entertainment district planned around a large public plaza and new venue concepts slated for delivery in stages through 2026 and beyond. Announced elements include:

• An immersive sports-and-entertainment concept known as Cosm, planned for 2026 timing.
• A major indoor concert venue expected to open in 2027 under a long-term lease with Live Nation.
• New food-and-beverage tenants and additional retail intended to build street-level activity as residential and hotel inventory comes online.

What “topped out” means for the pace of change downtown

While topping out does not guarantee an immediate opening, it is a clear indicator that Centennial Yards’ skyline-changing components are moving beyond excavation and foundation work into the final stretch of construction. For downtown Atlanta, the milestone underscores that the redevelopment is advancing from long-standing plans into a period where new buildings, tenants, and public spaces are increasingly becoming operational realities.

Centennial Yards has been positioned as a long-term remake of a rail-adjacent, underutilized district; the first two towers reaching full height signals the project’s most visible construction progress to date.