The National Football Foundation, which runs the Hall of Fame, made the announcement Monday.
The new site is in the Centennial Olympic Park area downtown near the Georgia Dome and World Congress Center. The College Football Hall of Fame was located in South Bend, Ind., near the campus of Notre Dame, for 17 years. It closed Sunday.
The has a price tag of $66.5 million, with the 94,256-square-feet hall facility costing $54 million. Both public and private funds will be used.
The NFF announced three years ago that the hall was moving, but fundraising issues forced several delays in the project.