Mayor Kasim Reed announced this morning at a press conference that the Atlanta Housing Authority has officially closed on its purchase of the Atlanta Civic Center in Downtown. The 19-acre property will become a $300 million mixed-use development with retail, office space and affordable housing.

Reed said 30 percent of the housing units will be designated as affordable, and the development will also include a Publix supermarket.

Reed said the Atlanta Housing Authority will partner on the project with Weingarten Realty.

“This will be the largest commitment to affordable housing in the heart of the city in more than a decade,” Reed said.

The $31 million transaction will see the Atlanta Housing Authority acting as lead developer on the housing component, while Weingarten will handle retail and office space. The site is likely to have multiple high-rise buildings.

Reed said over the summer that the current Civic Center, built in 1967, will likely not be preserved but there is discussion about building a smaller entertainment complex on the site.