Portman HoldingsAtlanta Business Chronicle
Portman Holdings’ plans for a Midtown block now comprised of surface parking and low-rise banks could include two glassy towers of varied dimensions resembling Tetris pieces—and loads of stacked parking.
That’s according to renderings and details first gathered by the Atlanta Business Chronicle, which reports the developer hopes to break ground in the first half of next year. Why the rush? Demand for office space at Portman’s under-construction, 21-story Coda project next door is so strong that all interested companies—including large tech firms—might not fit.
According to the ABC, the 740 W. Peachtree St. project would encompass more than 600,000 square feet, built in two phases, beginning with an office piece at the corner of 4th and West Peachtree streets.
The site in question, as seen in March, with Coda construction at right.
The second phase would (obviously) come later, comprised of more offices and roughly 140 residential units. About 9,500 square feet of retail would dot the project’s base at street level.
Interestingly, the two banks operating on the 1.7-acre site now (SunTrust and Midtown banks) would be worked back into the towers, with drive-thru corridors behind the towers, the ABC reports.
The proposal came before Midtown’s Development Review Committee on Tuesday night, and one sticking point was placement of the planned 1,039 parking spaces, with planners asserting that parking could be better screened within the design.
The development team hopes to leverage momentum in the neighborhood fueled by Georgia Tech, tech-oriented industry, and the growth of residential development.
One block north, Coda is scheduled to open in 2019.
Renderings: Portman Holdings via