Tivoli Properties may be re-reviving its plans to develop a key piece of Midtown real estate — this time in the form of a 51-story mixed-use tower. It appears Tivoli and Cushman & Wakefield are preparing to make a pitch to Atlanta's Development Review Committee regarding 1138 Peachtree, a 364-apartment "anchor of the Midtown Mile." Planned for a long-empty lot surrounded by 12th, 13th, Crescent and Peachtree streets, plans would include parking and roughly 53,000 square feet of retail. Available renderings are intriguing but fairly generic. If everything goes as planned (which, if this lot's history is any indication, isn't too likely), developers hope to deliver for tenant construction next fall and open sometime in 2015.
The site at 1138 Peachtree St. was proposed in 2007 as the site for a Mandarin Oriental Hotel; that didn't end well, with a South Carolina bank foreclosing on the property in 2010. Later that year, the project was re-pitched as a hotel-and-retail mixed-used development. Tivoli was preliminarily granted bond financing, and company officials said they had other equity, but everything ultimately stalled. Reps for Tivoli and Cushman & Wakefield haven't respond to email inquiries this week. In addition to data regarding the actual development, the potential presentation to the DRC includes one other interesting number: They say about 68,000 daytime employees are within "a short walk" from the proposed site.
— By Curbed Atlanta contributor Tyler Estep
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