Georgia-Pacific Unveils Plans for Historic Mixed-Use Redevelopment in Downtown Atlanta

Georgia-Pacific redevelopment rendering: Peachtree Street view, downtown Atlanta.

Sept. 19, 2024 - Georgia-Pacific today announced initial plans for one of the country's largest mixed-use redevelopments and the intent to transform its iconic 51-story world headquarters and the surrounding city block into a thriving center for innovation and community engagement. The prestigious downtown location will be reimagined into a dynamic mix of residential living, modern office spaces, retail, restaurants and a landscaped central plaza for gathering.

This project reaffirms Georgia-Pacific's commitment to the future of Downtown Atlanta and promises to set a new standard for adaptive reuse.

"If realized, this will be more than just a redevelopment; it has the potential to generate economic growth and create mutual benefit for the city, local businesses, their employees, Georgia-Pacific employees and our vibrant community," said Christian Fischer, President and CEO of Georgia-Pacific. "The office landscape has changed, and we recognize that the adaptive reuse of our site and office tower can create greater long-term value. We are also acutely aware of the need for more residential, shopping, dining, and entertainment options in our downtown neighborhood, which is why Georgia-Pacific is excited to provide a space that will offer unmatched opportunity in Downtown Atlanta."

The proposed development, scheduled for completion in fall 2027, includes the following:

• More than 400 apartment units on the tower's uppermost floors, among the highest in the Southeast
• +/- 125,000 square feet of retail, restaurant and entertainment space
• +/- 600,000 square feet of Class A office space anchored by Georgia-Pacific and Koch
• +/- 35,000 square feet dedicated to a large central plaza
• More than 2,100 parking spaces plus adjacent MARTA and Atlanta Streetcar transportation access
• Future multi-phase development plans include opportunities for a hotel and additional retail and residences

Georgia-Pacific has assembled a team of industry-leading experts to bring this project to life, including an in-house, mixed-use development team responsible for leading both the redevelopment efforts and the go-to-market strategy and capitalization of the project. External partners include Rule Joy Trammell + Rubio, architect of record; Healy Weatherholtz, retail broker; Kimley-Horn, civil engineering; Studio Saint, interior design; Brasfield & Gorrie, preconstruction; and Transwestern, consulting and property management.

"A thoughtful mixed-use project of this scale on Peachtree promises to launch a long-awaited renaissance for our city's most important main street business district," said Clark Dean of Transwestern's Transaction Sciences Group, who has consulted on this transformational project since its inception.

The ambitious undertaking will blend modern design with the building's historic presence, revitalizing this prestigious downtown address as the cultural heart of Atlanta.

Atlanta Mayor Andre Dickens stated, "This transformative redevelopment is a significant step in moving Atlanta forward, turning an important block in the heart of the city into a vibrant and welcoming destination that breathes new life into downtown. This project aligns with many of our important 'Moving Atlanta Forward' initiatives, including expanding much needed housing options and fostering economic revitalization that supports local businesses."

This project also promises to be a boon for surrounding businesses by creating a welcoming neighborhood with easy access to amenities and entertainment for companies and their employees seeking to work in the downtown area.

The Georgia-Pacific Center has been an architectural landmark since its completion in 1982. Notable for its iconic stair-like design made of pink granite, it occupies the historic site of DeGive's Grand Opera House, later the Loew's Grand Theatre, where "Gone with the Wind" premiered in 1939. With its distinctive design and historical significance, this project will pay homage to Atlanta's rich cultural past while shaping its dynamic future.

Those interested in partnering around the commercial space or learning more about the project can contact the team by email at: development@gapac.com.

Based in Atlanta, Georgia-Pacific and its subsidiaries are among the world's leading manufacturers and marketers of bath tissue, paper towels and napkins, tableware, paper-based packaging, cellulose and building products.

SOURCE: Georgia-Pacific