Redevelopment plans announced for another major downtown Atlanta building

ATLANTA — A new plan is in the works to redevelop a major building in downtown Atlanta.

The Georgia-Pacific building, a pink granite structure that’s a part of the city’s skyline, could be redeveloped into a set of restaurants and apartments.

On Channel 2 Action News This Morning, Channel 2′s Linda Stouffer showed a first look at the big changes being proposed by Georgia-Pacific for the building on Peachtree Street.

Georgia-Pacific said it wants to re-imagine the whole city block, with a complete redo of the building and plans to bring in restaurants, new office spaces and outdoor areas.

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“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,” Atlanta Mayor Andre Dickens said in a statement. “With redesigned public spaces, new retail and restaurants, as well as easy access to public transit, we are creating a unique downtown neighborhood that will bring fresh energy to our city. This development will draw residents, visitors, and businesses alike, reinforcing our vision of a safe, inclusive, and thriving downtown – one that is family-friendly and nurtures new talent. It’s about building a better Atlanta for everyone—today and for the future.”

Georgia-Pacific said the planned redevelopment would “be a boon” for businesses in the area and would create “a welcoming neighborhood with easy access to amenities and entertainment for companies and their employees seeking to work in the downtown area.”

Jannette Gue, a student, told Channel 2 Action News that in this part of downtown Atlanta, the community needs more places to eat.

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“I feel like there’s like a plethora of options in Midtown versus here, it’s really not that much,” Gue said. “Different cuisines or foods that have more nutrition in it.”

NewsDrone 2 flew over the 51-story massive pink granite building, where on the top floors, Georgia-Pacific says they plan to put 400 apartments with views of Atlanta.

“Georgia-Pacific’s initial plans for a transformative redevelopment of this scale in the heart of Atlanta align perfectly with our vision to reimagine Downtown,” Katie Kirkpatrick, president & CEO of the Metro Atlanta Chamber, said in a statement. “A catalyst for economic growth, this project will add momentum to others already underway and contribute to a world-class experience and vibrant neighborhood for years to come.”

Channel 2 Action News reached out to Georgia-Pacific, who said they’re committed to keeping their corporate headquarters in Atlanta and called the plans for redevelopment an “adaptive re-use of office space,” which would make it one of the largest mixed-use redevelopment in the United States.

The company said they hope to start construction on the redevelopment next year, including a summer 2025 groundbreaking.

For now, Georgia-Pacific is looking for partners for the redevelopment spaces and is not ready to announce funding plans.

According to Georgia-Pacific, the proposed development includes:

• 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 Inc.
• +/- 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

“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,” Christian Fischer, president and CEO of Georgia-Pacific, said in a statement. “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.”

Construction is expected to be finished by Fall 2027.

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