Metro Atlanta's collection of high-rise office towers has been stuck in neutral for several years now, dating back to the Recessionary Dark Ages. That could change sooner than later with the development of a site along Ga. Highway 400 — or it might spell good things for an iconic but ailing Midtown tower. The Atlanta Business Chronicle (paywall alert!) reports a trio of developers that includes Cousins Properties wants to build a tower at Abernathy Road and Ga. Highway 400 that would rise about 30 stories. They hope the shiny new edifice would a.) Entice Intercontinental Hotels Group to move its American headquarters from down the road, or b.) Lure another large company.
The tower's scope would go beyond offices; plans call for up to 30,000 square feet of retail and a 400-room hotel, too. Since last year, the hotels giant IHG has been touring Perimeter office towers, trying to decide whether to stay put on Three Ravinia Drive in Dunwoody (above), sign at a new building or uproot for space closer to Atlanta's core. Choosing the new-tower option, the newspaper notes, would likely break metro Atlanta's longest drought without a new high-rise office building since before the Olympics.
Alternately, IHG could also be considering a relocation to Bank of America Plaza, which still bears large gaps where office workers are supposed to be, the newspaper reports. Being that IHG is seeking up to 400,000 square feet of office space, the latter option would likely bring a jolt of life to Atlanta's tallest building and the surrounding streets of Midtown. But it'd also bring those dreaded vehicles.
· 30-story tower could attract corporate HQ [ABC; subscriber]
· Could Office-Tower-Palooza Break Out At Perimeter? [Curbed]