Develop Fulton’s board of directors approved a $223.7 million bond inducement for a 10-acre site in  Downtown Atlanta. The Atlanta Business Chronicle reports that the developer, Webstar Technology Group, has to display more progress before the bond will be issued. Webstar will get $9.7 million in tax savings over 10 years should it move forward.

The development site is located south of Mercedes-Benz Stadium along Whitehall Street near Castleberry Hill.

The project, Forge Atlanta, is expected to cost approximately $756 million. Phase one would include 300 hotel rooms; 60,500 square feet of retail and entertainment space; and related amenities. Residential condominiums and an unspecified amount of office space are also part of the plan.

The developer plans to build approximately 600 condo units during the first phase.

15 million square feet is available for possible development.