Atlanta may soon be getting a large new addition, as developers are pitching three new towers to part of Midtown Atlanta’s skyline. The project is slated to be built at the vacant “Symphony Center” in Midtown Atlanta. Two out of the three towers would become two twin 46 floor towers of residences. There is no concrete information if they will be for sale, however the proposals uses the word “apartments” which makes us assume they will all be for rent. The other 56 floor tower would include 22 floors of a luxury hotel and thirty four floors of additional residences.
The project will include:
- 95,500 of retail or restaurant
- 1,350 apartment units
- 270 hotel rooms
- 1,200 parking spaces
The site was supposed to be a symphony, but after raising $100 million from donors and investors the other $100 million did not come through from the state which is forcing the current owners (Woodruff Arts Center) to look at other locations including 15th and Peachtree for the new symphony. The property is estimated to be sold for as much as $30 million, and could act as a catalyst for the midtown region of Atlanta which has quickly become a hot spot for high-rise living. The overall plan for Midtown must be carefully looked at because it will add more residents and more traffic. If Midtown is to keep the livable walkable community, measures must be taken for long range planning in the area. Luckily it will have time to go through the proper channels (the project was just submitted on Nov 22nd to both the Atlanta and Georgia Departments of Community Affairs) as the project has an estimated completion date of 2020. We assume that you will be able to get more information on how the project will impact the neighboring communities by connecting with the Midtown Alliance who has been creating a long term vision and blueprint for Midtown since 1978.
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