Jamestown Plans Atlanta Mixed-Use Project
- Mar 17, 2021
Eager to capitalize on the emerging transformation of Atlanta’s Upper Westside neighborhood, Jamestown has revealed plans to redevelop its three-building site in the area into a mixed-use office destination. Called Allied Studios, the project will feature 220,000 square feet of premier offerings.
Allied Studios will emerge from three existing 1960s-era buildings located along Hills Place at Collier Road. Jamestown has owned the properties since purchasing them in 2019 for a total of approximately $23 million, according to Fulton County records.
The redevelopment plans call for the site to have a centerpiece of 120,000 square feet of creative office space designed to accommodate post-pandemic comfort and safety preferences and requirements. The remaining square footage at Allied Studios will consist of retail and restaurant offerings, as well as showroom space.
With an eye on such new development and infrastructure improvements as the Westside Beltline and Silver Comet trail expansions in the Upper Westside submarket, Jamestown endeavors to use Allied Studios as a means of further advancing the area’s evolution.
Holding its own
Jamestown has confidence not just in the Upper Westside submarket, but in Atlanta in general. “Atlanta continues to see strong office demand in its local neighborhoods and is rapidly emerging as a hub for a wide range of tech and creative industries,” Michael Phillips, president of Jamestown, told Commercial Property Executive. “With its high absorption and recent series of high-profile entries and expansions, including Airbnb and Microsoft, Atlanta is poised for continued positive momentum.”
Phillips’ assertion is not just a matter of opinion; industry experts agree that Atlanta is on solid ground. While the metropolitan Atlanta office market has not escaped the ravages of the COVID-19 health crisis, according to a fourth quarter 2020 report by Lincoln Property Co., the city has held up well relative to other major markets, due in no small part to its diversified economy, which has proven stronger when weathering downturns.