Georgia-Pacific Center Set for Major Transformation

Categories: Georgia Business NewsGeorgia News

Artist's rendering of the Georgia-Pacific Center transformation into apartments and retail spaces.

News Summary

The Georgia-Pacific Center in downtown Atlanta is undergoing a significant redevelopment, converting its top floors into 400 new apartments. This transformation also includes a vibrant retail, dining, and entertainment space on the lower levels, aimed at revitalizing the area amidst a high office vacancy rate. The project envisions completion by fall 2027, bringing a central plaza for community interactions and opportunities for further developments in the vicinity.

Exciting Changes Coming to Downtown Atlanta!

Atlanta is buzzing with some thrilling news! The iconic Georgia-Pacific Center, a gleaming skyscraper that has stood tall in the heart of downtown at 133 Peachtree Street, is gearing up for a major transformation. The renowned company plans to convert the top floors of this magnificent 52-story building into 400 new apartments, marking a big shift in how we think about urban living.

A New Mix of Living, Shopping, and Fun

This project isn’t just about adding homes; it’s also about creating a vibrant community space. The lower floors of the Georgia-Pacific Center will be revamped to feature a whopping 125,000 square feet dedicated to retail, dining, and entertainment. Imagine strolling down Peachtree Street, grabbing a bite to eat, shopping for the latest trends, or enjoying local entertainment—all right at your doorstep!

With a current office space of 1.3 million square feet, the Georgia-Pacific Center, which is currently about 80% leased, will retain around 600,000 square feet for Georgia-Pacific itself and its parent company, Koch Industries. This balance aims to tackle the growing concern of office space vacancies in the area.

Tackling Vacancy Rates with a Fresh Vision

Recent reports revealed that downtown Atlanta is facing a 35.5% office vacancy rate, a reality that has pushed many businesses to rethink their spaces. Taking a proactive approach, Georgia-Pacific’s redevelopment project is seen as a step toward revitalizing the area and offering alternatives amidst the evolving landscape of workspace needs, especially following changes brought on by the COVID-19 pandemic.

In fact, Asbury Law Firm has already made plans to relocate from the Georgia-Pacific Center to Truist Plaza as part of this transition, vacating about 50,000 square feet in the process. They’ve signed a lease for around 13,000 square feet and are gearing up for their move in March 2025.

The Path Ahead

With the official announcement of this redevelopment plan having emerged just last week, the excitement in the city is palpable. The completion of the Georgia-Pacific transformation is envisioned for the fall of 2027, although the exact budget has yet to be revealed. What remains clear is that this project could significantly boost economic activity in downtown Atlanta, especially with a few exciting events on the horizon, like the 2026 FIFA World Cup and the 2028 Super Bowl.

Spanning across the center will be a charming new central plaza designed to encourage community interactions—think weekend markets and outdoor gatherings that draw people together. The team behind this ambitious project includes experts from Transwestern alongside various architecture and engineering firms—the perfect mix to ensure a well-executed plan.

Looking Towards the Future

But wait, there’s more! After transforming the Georgia-Pacific Center, there could be even more plans on the table for the surrounding area, including developments for hotels, more residential spots, and additional retail spaces. This could mean a bustling neighborhood that not only breathes life into downtown but also offers something for everyone!

So, whether you’re an Atlanta local or just someone keeping an eye on exciting urban developments, keep your ears open and watch this space. The Georgia-Pacific Center’s transformation is not just about creating apartments and shops; it’s about revitalizing the very essence of downtown Atlanta and creating a thriving community for everyone.