Atlanta, August 26, 2025
News Summary
Atlanta is set to lose the Cheetah Lounge, a celebrated nightlife spot, as plans for its demolition are finalized. Developers Core Spaces and Capstone Communities will transform the site into a mixed-use project featuring 1,600 student beds and retail space. Groundbreaking is scheduled for late 2026, with the project aiming to address the needs of the growing student population in the area. While excitement surrounds the new development, the closure of the Cheetah Lounge leaves a nostalgic void for many residents who have cherished this cultural landmark for decades.
Atlanta’s Iconic Cheetah Lounge to Be Demolished for New Student Housing Development
Atlanta is experiencing a significant transformation as the Cheetah Lounge, a beloved fixture in the nightlife scene for nearly five decades, is set to be demolished. Located at 887 Spring Street since 1987, the lounge has been dubbed the “Southeast’s most renowned nightclub,” attracting locals, tourists, and celebrities alike.
Developers Core Spaces and Capstone Communities have announced plans to redevelop the two-acre site into a multi-phase, mixed-use project. The first phase is poised to revolutionize the area by introducing 1,600 student beds aimed at providing housing for the growing population of students attending nearby educational institutions, including Georgia Tech. Accompanying this residential expansion will be 5,000 square feet of street-level retail space designed to enhance the neighborhood’s vibrancy and accessibility.
A third-floor amenity deck will be incorporated into the design, alongside various enhancements intended to bolster pedestrian activity within the area. Groundbreaking for this much-anticipated development is scheduled to occur in late 2026, with completion expected by 2029. This redevelopment reflects a broader trend in Atlanta’s real estate market, which increasingly leans towards student housing near key academic institutions.
Despite the excitement surrounding the new development, the impending closure of the Cheetah Lounge has stirred feelings of nostalgia among many residents. Known for its distinct culture and entertainment offerings, the lounge has been a staple of Atlanta’s nightlife for generations. Over the years, offers for the Cheetah’s site have exceeded $30 million, highlighting the remarkable increase in value considering it was purchased for under $2.3 million in the 1980s.
Particularly in the Old Fourth Ward, where the Cheetah Lounge is located, development interest has grown. However, challenges persist, especially with the nearby vacant Atlanta Medical Center, which has affected the momentum of local projects. The developers of a mixed-use project called the Bowery have faced difficulties in attracting essential services such as grocery stores, as the hospital’s closure impacts the overall development landscape in the vicinity.
As the Cheetah Lounge prepares to close its doors for good, the future of the site rests in a comprehensive plan that aims to not only cater to a burgeoning student population but also to shape the area’s urban landscape into a thriving, multifaceted community space.
Key Details of the New Development
- Location: 887 Spring Street, Atlanta
- Developers: Core Spaces and Capstone Communities
- Number of Student Beds: 1,600
- Retail Space: 5,000 square feet
- Groundbreaking: Late 2026
- Completion: Expected by 2029
Background on Cheetah Lounge
The Cheetah Lounge has played a significant role in Atlanta’s entertainment scene for nearly 50 years. While primarily known as a strip club, it cultivated a reputation as a cultural landmark in the city. With its impending demolition, many are reflecting on its influence in the nightlife and entertainment industry.
Local Development Context
Increasing interest in the Old Fourth Ward area indicates a shift in both social and economic dynamics, aimed at catering to student needs and urban life. However, the challenges posed by nearby vacant properties remind stakeholders of the complexities involved in urban redevelopment.
Frequently Asked Questions
What is happening to the Cheetah Lounge?
The Cheetah Lounge is set to be demolished to make way for a new student housing development.
Who is developing the new project?
The developers are Core Spaces and Capstone Communities.
What will the new development include?
The project will include 1,600 student beds and 5,000 square feet of street-level retail space, along with community amenities.
When will the development be completed?
The groundbreaking is scheduled for late 2026, and the project is expected to be completed by 2029.
Why is the Cheetah Lounge significant?
The Cheetah Lounge has been a cultural landmark in Atlanta’s nightlife scene for nearly 50 years.
Key Features of the Development
| Feature | Description |
|---|---|
| Location | 887 Spring Street, Atlanta |
| Developers | Core Spaces and Capstone Communities |
| Student Beds | 1,600 |
| Retail Space | 5,000 square feet |
| Groundbreaking | Late 2026 |
| Completion | Expected by 2029 |
Deeper Dive: News & Info About This Topic
HERE Resources
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Atlanta real estate market 2025: Will prices keep rising? A buyer’s survival guide
Georgia High Schools Receive National Recognition
Cheetah Lounge Set for Demolition to Make Way for New Development
Additional Resources
- The Jasmine Brand
- Wikipedia: Cheetah Lounge
- AJC
- Google Search: Atlanta student housing developments
- Steve Harvey Morning Show
- Encyclopedia Britannica: Atlanta
Author: STAFF HERE ATLANTA WRITER
The ATLANTA STAFF WRITER represents the experienced team at HEREAtlanta.com, your go-to source for actionable local news and information in Atlanta, Fulton County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as vibrant music festivals like Shaky Knees and Music Midtown, major cultural celebrations including Dragon Con and the Atlanta Film Festival, and iconic sporting events like the Peachtree Road Race. Our coverage extends to key organizations like the Metro Atlanta Chamber of Commerce and the Atlanta Convention & Visitors Bureau, plus leading businesses in logistics, beverages, and retail that power the local economy such as Delta Air Lines, The Coca-Cola Company, and The Home Depot. As part of the broader HERE network, including HEREAugusta.com and HERESavannah.com, we provide comprehensive, credible insights into Georgia's dynamic landscape.
