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Seven-Story Peachtree Road Complex Officially A Go

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Officials announced today that a seven-story, mixed-use medical complex has been green-lighted to replace "blighted parcels" across the street from Piedmont Hospital. The $65 million project, dubbed "Cornerstone Medical Center," will rise at the intersection of Peachtree and Collier roads. Plans call for 145,000 square feet of Class AAA medical office space and 16,000 square feet of street-level "boutique retail" and restaurants, presented in a blend of classic and modern architecture. Cornerstone Development Partners and Stein Investment Group partnered to move the deal forward, and officials say the concerns of neighbors were successfully addressed. The Atlanta Zoning Commission approved site plans last month. "This combined, four-parcel site is a prime commercial location that has been neglected for years if not decades making this a real opportunity to improve the neighborhood," Wesley DeFoor, Cornerstone Development Partners vice president, said in a release. The site is currently home to Chick-fil-A, a dry cleaners, liquor store and the former Harry's in a Hurry, which shuttered about 12 years ago.

The company has been working since 2012 to assemble the four parcels needed for the 3.5-acre site. Cornerstone formed a joint venture with Stein — who has redevelopment projects under way at Virginia-Highland's retail strip and Westside's Ironworks site, among other locations — earlier this year.

The seven-story complex will have four levels of below-grade parking. Earlier talks indicated that Chick-fil-A will open a space within the new development, and the finalized rendering above would support that. The Cornerstone-Stein team plans to break ground this summer and complete the project by next year.

· Developer, Neighborhood Working Together on MOB? [Curbed Atlanta]
· Recent Buckhead coverage and discussion [Curbed]