NAP Breaks Ground on Midtown Redevelopment
- Oct 17, 2017
North American Properties broke ground on its mixed-use redevelopment project in Midtown Atlanta, Colony Square. After purchasing the property in 2015, the company plans to transform it with a three-phase process that will end in November 2019.
The firm celebrated the start of the demolition process, an event attended by Atlanta’s Mayor, Kasim Reed, officials from NAP and its partners, as well as around 800 citizens. “North American Properties has an extraordinary track record for creating spaces of the highest quality in caliber, whether it’s Atlantic Station where they completely turned that project around or Avalon in Alpharetta. (…) The reimagined Colony Square will be a great new addition to the Midtown community,” said Kasim Reed in a prepared statement.
Prepared for the future
Colony Square is comprised of five buildings located at 1197 N.E. Peachtree St., on the corner with 14th N.E. St. NAP plans to completely overhaul the mixed-use asset. About 40,000 square feet will be dedicated to community gathering places; 143,000 square feet will be developed into entertainment, retail, a fitness center and restaurants; the food hall named Main & Main will occupy 28,000 square feet, while 172,000 square feet of office space will also be added. The Arts Center Plaza on the corner of 15th and Peachtree St. will be wrapped in a new six-story building, which will also feature ground-floor retail and dining.
“Midtown is the future and there is no better place to talk about Midtown’s future than at Colony Square, an iconic reminder of Midtown’s past. Now that [it] has grown up to be one of the most desirable urban experiences in the Southeast, we are turning Colony Square inside out and creating an energized streetscape that will play host to entertaining the thousands of visitors and residents that cross the destination’s path daily,” said Mark Toro, managing partner for North American Properties, in prepared remarks.
The first phase of development is slated for completion on July 4, 2018, marking Colony Square’s 50th anniversary since the original groundbreaking. It will feature street-level restaurants and retail around the 100 building. The second phase will open on March 14, 2019, with improvements to the 400 building. The final phase is due November 21, 2019, bringing online the luxury movie theater, food hall, fitness center and the office space.
Office leasing will be handled by Cushman & Wakefield. NAP brought on Hoar Construction as the general contractor, Lord Aeck Sargent as the architect, Beyer Blinder Belle as the lead design firm, Site Solutions as the landscape and hardscape architect, and Kimley-Horn as the civil engineer.
Images courtesy of North American Properties