Local news- Press Release
Atlanta Georgia - City of Atlanta Reaches Key Milestone in Innovative 2 Peachtree Street Redevelopment 18 January 2024 ( news )
Atlanta , state Georgia ( By Press Release office)
Jan 18,2024
| 24| 1
Mayor’s Office of Communications
55 Trinity Avenue , Suite 2500 • Atlanta , Georgia 30303
City of Atlanta Reaches Key Milestone in Innovative 2 Peachtree Street Redevelopment
ATLANTA—
Mayor Andre Dickens announced the City of Atlanta has taken the next step in the redevelopment of
the 2 Peachtree Street conversion project . At its monthly meeting on January 18 , 2024 , the Invest Atlanta Board approved Two Peachtree Partners , LLC to begin negotiating the terms of the project . The conversion of 2 Peachtree Street was
first announcedin 2022 to
converta former office tower into an innovative residential and mixed - use development downtown .
Invest Atlanta conducted a six - month competitive request for proposals process that scored respondents based on their ability to achieve the City ' s vision for the building . Invest Atlanta prioritized development proposals that considered LEED and WELL - certified standards with more affordable units that blend and integrate all income levels throughout the property in a cohesive way . Proposals that demonstrated an ability to provide opportunities for local female and minority businesses were also prioritized as noted in a request for proposals .
“Identifying Two Peachtree Partners , LLC as the developer is a major milestone in this project , ”
said Atlanta Mayor Andre Dickens . “The transformation of 2 Peachtree Street is potentially our most ambitious affordable housing undertaking , providing connectivity between housing units and transit while breathing new life into Downtown Atlanta . Thank you to Invest Atlanta , my Housing Strike Force , the Department of Planning and everyone involved for their commitment to a project that will make a lasting impact on our city’s future . "
2 Peachtree Street is 890 , 000 square feet , 44 - story office tower adjacent to Woodruff Park and the Five Points MARTA station . The conversion is expected to create a minimum of 200 new housing units and further the redevelopment of Downtown alongside other catalytic development projects such as Centennial Yards and the Stitch .
“We acquired 2 Peachtree less than a year ago with a vision to bring more residents and businesses to Downtown Atlanta , ”
said Dr . Eloisa Klementich , President and CEO of Invest Atlanta . "What captivates me the most with the project is the commitment to equitable downtown revitalization , the promise of more affordable housing , and the exciting potential for mixed - use spaces that will further the vibrancy of the area . 2 Peachtree is poised to become a model of what transformative development can create for cities and their communities . "
The City of Atlanta and Invest Atlanta worked with Jones Lang LaSalle ( JLL ) as its development advisor . Led by JLL Vice President Ryan Fetz in Atlanta , the JLL team will continue to advise Invest Atlanta through the remainder of the contract process .
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www . atlantaga . gov
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