The developer behind Atlantic Station's turnaround and Alpharetta's Avalon has plans to revolutionize Midtown's iconic but tired Colony Square, the first large-scale mixed-use development in the Southeast. North American Properties, in partnership with Houston-based Lionstone Investments, closed on the acquisition of Colony Square this week, with plans to debut the reimagined property by July 2018 — the 50th anniversary of Colony Square's original groundbreaking. Most notably, plans call for taking the roof off the retail core of Colony Square to better connect it with the street and lend the sense of a walkable, open-air urban experience. "We will engage with the city, with the street and with pedestrians, and it will fundamentally change the experience of living and working in Midtown Atlanta," Mark Toro, NAP managing partner, said in a press release. In the meantime, developers will be seeking feedback from anybody and everybody on exactly what Colony Square should become.
Built in the late 1960s at 14th and Peachtree streets, Colony Square comprises two office towers totaling 719,402 square feet, plus 162,953 square feet of retail space, as well as condos and the W Hotel. NAP and Lionstone acquired the office towers and retail space that connects them. Developers say this intersection — i.e., the "Main and Main" of Atlanta — has the highest density in the Southeast.
The new vision calls for "restaurants and shops that are relevant and exciting to the Midtown consumer," officials said. It's too early for renderings, because concrete plans have yet to be made.
To that end, developers want input from the Atlanta community and experts in urban planning. NAP is asking people to share ideas for Colony Square with the hashtag #ReimagineCS.
· Recent Colony Square coverage, discussion [Curbed Atlanta]
· Developer Bluntly Blames MARTA Expansion Woes on Racism [Curbed]