The lineup for the 2023 Peach Drop, Atlanta’s largest New Year’s Eve celebration, has been released. The event returns to its home at Underground Atlanta.
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Atlanta Magazine
Underground Atlanta will try, try again
Shaneel Lalani wants the historic heart of the city to thrive
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Photograph by Martha Williams
In the middle of 2020, as the Covid-19 pandemic put a question mark on the future of both downtown Atlanta and real-estate development, Shaneel Lalani got a phone call. WRS, the South Carolina–based developer that bought Underground Atlanta in 2017, wanted a loan. Lalani, the founder and CEO of the development firm Billionaires Funding Group, had been looking for a supersized project closer to his home in Decatur, but the call gave him a better idea: He bought the subterranean retail, restaurant, and nightlife district from WRS.
The historic, 400,000 square foot property known as Underground Atlanta has a new owner.
Shaneel Lalani, CEO of the Norcross company the Billionaires Funding Group, recently announced he purchased the property, without disclosing the price.
This comes after the city sold this site WRS Inc. in 2017 for nearly $35 million.
On Monday’s edition of “Closer Look,” Lalani joined host Rose Scott for a conversation about his plans for the property and his vision for the future of downtown Atlanta.
To hear the full conversation, click on the audio player above.