Downtown Atlanta - Making Headlines
Lately, there has been a significant amount of news about Downtown Atlanta. Cousins Properties is finalizing the purchase of the 191 Peachtree Towers in Downtown and moving its 175-person headquarters operation from Cobb County to the building. The American Cancer Society recently announced the move of its national headquarters of 650 employees from DeKalb County to the Inforum building in Downtown. In addition, Habitat for Humanity moved its administrative headquarters from Americus, Georgia to 270 Peachtree Street this year, ultimately bringing in another 150 jobs. There have also been many headlines about the residential development boom, which is adding 8,000 units to Downtown in the next 2-3 years. The Georgia Aquarium, located in Downtown, attracted three million visitors in the short nine months it has been open. Why are all of these things happening? What is influencing people to move Downtown – whether to live, work, or play?
Where exactly is Downtown?
Downtown Atlanta, with its center near the intersection of Peachtree Street and Andrew Young International Boulevard, is bounded by North Avenue to the north, I-20 to the south, Northside Drive to the west, and Boulevard to the east. Downtown is a thriving place with a growing population of residents and office workers, as well as students, visitors, and conventioneers. Over 23,000 people live within Downtown’s four square miles, making it 60% higher in density than the City of Atlanta as a whole. With 137,000 people working Downtown, it also has the region’s largest concentration of employment in any one area. Approximately 12 million visitors come Downtown annually for conventions, trade shows, sporting or special events, or tourist attractions. With a mix of race, ethnic, gender, and age groups, Downtown is also one of the most diverse and exciting places to be. There is never a dull moment in Downtown - something is always happening.
Office Market
Competitive leases, new construction, and a variety of office choices make the Central Business District a first choice for business.
Downtown has over 17 million square feet of competitively priced Class A, B, and C office space, averaging $19.95 per square foot in a wide variety of state–of–the–art office buildings within short walking distance of MARTA stations, parking garages and high–quality restaurants and other amenities, such as city, state and federal agencies, services, and courts.
Downtown is home to approximately 1,000 successful businesses and is the undisputed center of influence, policy, and governance. No other real estate marketplace in the Southeast has such a concentration of business, professional, educational, and government leaders. Downtown is home to several of the world’s top corporations. Almost half of Atlanta’s Fortune 500 firms are either headquartered or have a major office presence in Downtown and include Georgia Pacific, Coca-Cola, Southern Company, Sun Trust, and Cox Communications. Downtown is home to City Hall and the state’s capitol offices. It is also the location of the largest concentration of federal offices outside of Washington, D.C.
Access
Downtown has more roadways, interstate on and off ramps, bus routes, transit tracks, and rail stations than any other area in the Atlanta region. Nine MARTA stations and more than thirty local and express bus routes run through or near Downtown. More than a dozen on and off ramps link Downtown to the three connecting interstates – I-20, I-75 and I-85. Downtown is the heart of the region's telecommunications network with hundreds of miles of fiber–optic cable installed in nearly every street.
There are over 87,000 parking spaces in lots, garages, off–street and metered, on–street parking in Downtown.
Hartsfield-Jackson International airport, one of the busiest in the world, is a 15 minute drive, or a short MARTA ride from Downtown. There are more than 1,500 nonstop and direct flights leaving daily from Atlanta for more than 180 domestic and international destinations.
The Downtown Transportation Management Association (TMA) offers many services and transit solutions to ease your commutes to and from Downtown.
The Ambassador Force® and a brand new wayfinding signage system are here to assist if you get lost.
New Developments
Since 2005, development activity in Downtown (newly completed and planned) amount to over $1.6 billion (see list and map below). The Atlanta Downtown Improvement District (ADID) has also leveraged over $30 million worth of funded streetscape and infrastructure improvements in Downtown, most of which is either completed or underway.
Map # Project Status Completion Description Cost (M)
11 acres; 3 acres of open space New World of New - Under 1 April 2007 and plaza, and an 85,000 SF $96.4 Coca-Cola Museum construction museum.
Conversion - December Multiple new restaurants totaling 2 Restaurant Row $11.4 Under construction 2006 42,000 SF on multiple levels
Hilton Garden Inn New - Under 25,000 SF retail, 15,000 SF 3 2007 $70.6 Hotel construction restaurant space, 242 room hotel
500,000 SF building on the 2 acre AmericasMart New – Under 4 2007 site of the old Greyhound bus TBD Expansion construction terminal
Centennial Park 200 condominium units, and 31,200 5 New - proposed 2008 $63.3 East SF of retail
Post-Barry 985 units of condominiums and 6 New - proposed 2009 $200 Residential apartments 44 condominiums, 15,000 SF of New – under 7 Edge Lofts 2007 ground floor retail, 540 parking $16.7 construction spaces Planned office tower with retail 8 50 Allen Plaza New - proposed 2010 TBD
Office building (55 Allen Plaza), 250 55 and 45 Allen New – under room W hotel (45 Allen Plaza) with 9 2007 $280 Plaza construction 75 condominium units, restaurant and spa 250,000 SF office space 10,000 SF 10 30 Allen Plaza New – completed 2005 retail space and 678 parking spaces $50 Twin 39-story residential towers, Twelve Centennial New – under 11 2007 totalling 1,034 condos and a 102 $120 Park construction boutique hotel Conversion of historic building into Glenn Hotel Conversion - boutique hotel with 110 guest 12 2006 $21 completed rooms, a signature restaurant, roof top bar and 15,000 SF ball room Renovation of historic hotel into Renovation – under 13 The Ellis Hotel 2007 130 room boutique hotel $25 construction Two restaurants – Luckie Food Luckie Street Renovation – under Lounge and Burgers & More, along 14 2006 TBD restaurants construction with a newsstand and coffee shop called Charm
Phase 1 by 1,044 units, mixed-income Redevelopment – 2007, all other apartments, 45,000 sf office & 15 Capitol Gateway $115 under construction phases by retail, 15,000 sf learning center 2010 Conversion of former night club into 218 Peachtree Renovation – under 16 2006 two restaurants, a spa, and addition $25 Street construction of a boutique hotel The Reynolds 17 New – completed 2006 130 unit condominium building $42
150 residential units, 26,000 SF Renaissance Walk New – under 18 2007 retail, 36,000 SF office, 350 parking $43.3 at Sweet Auburn construction spaces Redo of public housing complex Redevelopment – 19 Grady Apartments 2008 into 500 mixed-income residential $140 under construction units 29-story condo tower, 12 loft units 20 The Atlantis New - proposed 2008 and a boutique hotel. $50
Phase I in Centennial Park 62 town homes, and 62 unit 2005; phase II North New – under condominium building – for sale 21 2006 $45 construction component of Centennial Place
mixed income community
New – under 22 Fair & Walker Lofts 2006 42 flats and townhomes $20 construction Centennial Station 58 condominium units 23 New - completed 2006 $20
DUO Lofts 80 condominium units 24 New - completed 2006 $40
Four-building housing complex for Georgia State New – under 25 Fall 2007 2,000 students $175 University Dorms construction 68 unit condominiums with 8,000 New – under 26 Oakland Park 2007 SF commercial space $18.5 construction
New – under 27 Central City 2006 80 condominium units $40 construction