Real Estate - FEBRUARY 22, 2021

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Atlanta inventor plans $100m downtown development

by Andrea Zander

Lonnie Johnson, the former NASA engineer who invented the Super Soaker children’s toy, is partnering on a planned $100 million development to bring affordable student housing to Atlanta's Sweet Auburn district, reported the Atlanta Business Chronicle. The property will consist of 250,000 square feet of student housing with 500 beds.

Johnson, president of JTEC Energy, is partnering with Michael Green, founder and managing partner of Atlanta-based Sophy Capital, and Bruce Fernald, a longtime real estate executive with deep connections to institutional capital and a passion for historic preservation. The project will be built on roughly two acres Johnson owns at 263 Decatur St. near the central campus of Georgia State University and King Memorial MARTA station.

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