Downtown Renaissance
Big Changes: Rendering of Centennial Yards. Photo credit: CIM Group
Downtown Atlanta is going through a bit of a metamorphosis, with the transformation of the 2 Peachtree Street office building, a massive renovation of Georgia State University’s campus, and the development of Centennial Yards, a $5 billion complex that will bring hotels, apartments and entertainment to downtown.
A joint venture named Two Peachtree Partners LLC, which includes several Atlanta-based developers, will retrofit the city-owned skyscraper near MARTA’s Five Points station with 625 apartments on the upper floors and shops and amenities on the lower levels. Developers say 287 units will be priced as affordable. Converting the office tower to include residences is estimated to cost around $400 million. Construction is expected to be finished by spring 2027.
Meanwhile, with the help of an $80 million donation from the Robert W. Woodruff Foundation, Georgia State University is planning a $107 million overhaul that includes demolishing the Sparks Hall building, renovating several others, creating a new quadrangle and reworking Woodruff Park. The school aims to have the work completed by the 2026 FIFA World Cup.
And perhaps the biggest change will be the creation of Centennial Yards, the redevelopment of the 50-acre piece of land between MARTA’s Five Points station and Mercedez-Benz Stadium formerly known as The Gulch. Crews expect to finish construction on the residential building, The Mitchell, this year. And by mid-2026, we can expect to see loft apartments, a brewery, an event hub, a fan gathering plaza and more.
