A decayed but iconic low-rise building at a prominent Midtown corner is scheduled to finally be redeveloped.
The circa-1950 Ponce de Leon building with that crumbling and utterly recognizable KODAK sign up top was a Star Photo camera shop before taking on the Kodak brand. It’s been abandoned for many years, aside from a stint as former Atlanta Mayor Shirley Franklin’s campaign headquarters in the early aughts.
Deteriorated to the point it’s no longer inhabitable, the property was sold to an investor back in May 2014 — on the condition that the sign remain.
The so-called Kodak building traded hands again on Friday as part of a three-parcel deal that fetched nearly $2 million, according to Johnny Gonzales of Berkshire Hathaway HomeServices.
Plans call for the building to undergo a modern-style transformation and become the third location for Salveo Integrative Health, a progressive healthcare organization with more than 20,000 annual clients, Gonzales wrote in an email to Curbed Atlanta.
The new owner, Dr. Shahzad Hashmi, plans a state-of-the-art wellness center that preserves historical aspects of the building, including the signage. "[He] could have easily chosen to demolish the entire structure, but he felt that was not keeping in good faith [with] Atlanta and its architectural history," Gonzales said.
The deal also includes a parking lot and The Atlanta Eagle nightclub’s building at 306 Ponce de Leon Ave. NE next door. Gonzales said his client "immensely respects that The Eagle is a local institution that has been in business for 30 years" and has signed the business to a three-year lease extension.
Gonzales said the Kodak building became a viable off-market option for the center after a deal to buy a Reynoldstown property near the ongoing Beltline extension fell through.
As for a timeline, Gonzales said design plans should be finalized with Xmetrical Architecture within the next six months, and construction could start by the middle of next year. After that, the project should wrap in a year, he said.
- Your Ultimate Guide To Atlanta's Most Iconic Signs [Curbed Atlanta]