The Goat Farm Arts Center, Atlanta's most eclectic arts outpost, has entered its next phase by adding housing and dining options on top of galleries and creative space.

Why it matters: The 12-acre property has long been an outlier among Atlanta real estate: a tucked-away creative space in a city increasingly overrun with anonymous apartments.

State of play: Residents have started to move into the expanded Goat Farm's first phase. Plans call for a coffee shop and bookstore, performance and arts venues, and a restaurant/bar.

• Contemporary arts museum MOCA GA could begin constructing its new home later this year.

Catch up quick: Countless photographers, painters, and digital artists, along with upstart and indie creative companies, have occupied spaces in the collection of 19th-century brick buildings that made up an old cotton-gin factory.

• Part of the magic was founder Anthony Harper's novel business model: Use a cut of studio rents to fund events, artists and performances, build word of mouth and create a vibrant place to visit, and they would never see a studio sit vacant.

Threat level: By 2019, West Midtown was in full boom, and property taxes had nearly doubled in five years. The historic buildings were also showing their age, Harper told Axios.

• After talks with several developers, Harper partnered with TriBridge, an Atlanta development firm whose managing partner Lee Walker was involved in the Atlanta arts community and attended Goat Farm events.

Zoom in: Artist studios and workshops line the ground floor of the new apartment buildings designed by Bureau V Architecture. Studio tenants also have full access to amenities like a rooftop pool overlooking West Midtown, a fitness center and an art-filled clubhouse.

• Gathering spaces include a breezy covered indoor/outdoor lounge, plus terrace seating and steps that can double as an amphitheater.
• Goat Farm-commissioned art displays prominently throughout the property landscaped with native plants and trees. The team is currently reviewing artists' programming proposals, Harper said.

Intrigue: The property's iconic water tower remains, although it's in a new location.

• The namesake resident goats moved to an animal sanctuary prior to the pandemic. (Kids were throwing rocks at the animals and feeding them Snickers bars, Harper said.)

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Officials in Atlanta and Savannah told Axios they've submitted applications for preliminary consideration to host the Sundance Film Festival starting in 2027.

Why it matters: Sundance is the nation's largest independent film festival, and Wednesday marked the deadline for U.S. cities to express interest in hosting the event.

What they're saying: Savannah Mayor Van Johnson told WTOC News that Savannah wants to host the Grammys, Oscars, BET Hip Hop Awards, and Sundance.

By the numbers: Last year's Sundance event drew nearly 87,000 in-person attendees, with out-of-state visitors spending about $97 million in Utah during the festival, according to a report from Y2 Analytics.

Catch up quick: The annual event, founded by Robert Redford, has been held in Park City, Utah, for the last four decades.

• Sundance Institute announced last month it would accept bids from cities interested in becoming the new host, but it's not guaranteed the festival will relocate.

What's next: Plaza and Tara cinemas owner Christopher Escobar says Sundance will tell cities on Monday if they've made the cut. The cities then have until June 21 to submit their bid.

• A site location is expected to be announced at year's end or early 2025.

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In the U.S., where it's celebrated with tacos, tequila and margarita specials, Cinco de Mayo is often incorrectly believed to be Mexico's Independence Day.

Reality check: Cinco de Mayo — or, in English, May 5 — marks a Mexican victory over France 50 years after Mexico's independence.

• Mexico's Independence Day is Sept. 16.

Flashback: Cinco de Mayo commemorates the anniversary of the May 5, 1862 Battle of Puebla and the victory by Mexican troops over French troops.

• Cinco de Mayo started catching on in the U.S. in the 1960s when Mexican American activists raised their profile, per History.com.

By the numbers: 59% of those celebrating Cinco de Mayo said they plan to purchase alcohol for the day, according to a Numerator survey of more than 5,100 consumers.

• That's higher than the 53% buying alcohol for New Year's Eve and 44% buying for St. Patrick's Day, the survey found.

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Metro Atlanta single-family home construction is up 11% compared to last year, according to the latest numbers from Federal Reserve Economic Data.

Why it matters: New construction could breathe life into our stalled market.

The big picture: Single-family home construction is down year-over-year nationwide, but it's grown 30% from March 2020 to March 2024, FRED reports.

The intrigue: Some new-build communities offer lower mortgage rates, an enticing deal as rates touched 7.5% in April.

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🏛️ Mayor Andre Dickens appointed a new chief operating officer, watershed commissioner and other leaders for the second half of his first term in office. (City of Atlanta)

🚧 Wawa broke ground yesterday on its first Georgia convenience store. The Pooler location is set to open by year's end or early 2025. (Savannah Morning News)

🤔 A new report found Atlanta's rent prices dropped by 3.7%, the fourth largest decrease nationwide over the last year. (WSB-TV)

👽 Here's how metro Atlanta is celebrating Star Wars Day tomorrow. (AJC)

🇺🇸 President Biden says the White House is working to do more to address the college protests nationwide. (Axios)