The wheels could be turning on early preparations for the construction of a large John Portman Holdings development in Midtown, near Tech Square.
Announced in July, the block-long development is proposed for a site just south of the under-construction Coda project.
Two mixed-use towers could bring 140 residential units, offices, ground-floor retail, and 1,000 parking spaces to the site, between 3rd and 4th streets, along West Peachtree Street.
Currently, a large parking lot, two small bank buildings, and an old house fill the site.
However, one of those banks—First Landmark—is prepping to move out of their classical building, according to a source close to the project, who says the bank intends to relocate in November.
According to the source, construction of the Portman project could take two years to complete, at which point the bank would move into the new building.
Permit filings confirm that First Landmark Bank is making alterations to the old Wells Fargo branch two blocks away at 754 Peachtree St.
The other bank, a new SunTrust location, opened within the past few years to replace a former location that was, ironically, displaced by Coda—another Portman project.
An agent working for Portman on the project indicated that no land has been purchased yet, though negotiations are underway. He also said both banks are negotiating slots in the new Portman buildings, pending a completion date and pre-lease agreements.
The agent could not comment on the timeline of the project or specifics beyond what has already been released. The relocation of First Landmark Bank, he confirmed, is tied to the new project.