New York-based developer Olympia Heights Management is bringing a substantial portion of Midtown’s No. 2 Opus Place project site back to the market, according to an Atlanta Business Chronicle report.
About a year after the project’s sales leader jumped ship, Olympia Heights is still trying to ink pre-sales for planned condos that would make up much of the 50-plus-story tower planned for the site—as evidenced by recent listings and a sponsored “Home of the Day” post on ABC’s website.
If realized, No. 2 Opus Place would be Atlanta’s tallest residential building.
In the meantime, the firm has launched efforts to find developers for the remaining 2.2 acres around the focal-point tower project, the paper reported.
That piece of the four-acre site is sizable enough to house more than a million square feet of additional office space—not including the seven floors of office space planned for the 55-story condo tower—plus apartments and retail.
Cushman & Wakefield is heading marketing efforts for the 2.2-acre portion of the site. (A Cushman & Wakefield representative told Curbed Atlanta the firm was unable to comment further at this time.)
What this news means for the feasibility of the lone tower project isn’t clear. Observers have been skeptical of the ambitious plans along 14th Street since Olympia Heights purchased the property more than five years ago. Previous plans have called for a 74-story main skyscraper and an elaborate art gallery on the site.
The developer secured a land disturbance permit and launched preliminary site work in late 2017, but few signs lately suggest the Perkins + Will-designed tower is set to ascend soon.
In August, Olympia Heights’s director of developments Roni Avraham told Curbed that onsite trees had been removed, and that construction was supposed to begin in earnest this past November.
That timeline would have put the centerpiece tower’s topping-out in January 2022, and its completion the following October.
Avraham was not immediately available for comment.