Mayor Andre Dickens announced the City of Atlanta has taken the next step in the redevelopment of the 2 Peachtree Street conversion project. At its monthly meeting on January 18, 2024, the Invest Atlanta Board approved Two Peachtree Partners, LLC to begin negotiating the terms of the project.
Invest Atlanta conducted a six-month competitive request for proposals process that scored respondents based on their ability to achieve the City’s vision for the building. Invest Atlanta prioritized development proposals that considered LEED and WELL-certified standards with more affordable units that blend and integrate all income levels throughout the property in a cohesive way. Proposals that demonstrated an ability to provide opportunities for local female and minority businesses were also prioritized as noted in a request for proposals.
“Identifying Two Peachtree Partners, LLC as the developer is a major milestone in this project,” said Atlanta Mayor Andre Dickens. “The transformation of 2 Peachtree Street is potentially our most ambitious affordable housing undertaking, providing connectivity between housing units and transit while breathing new life into Downtown Atlanta. Thank you to Invest Atlanta, my Housing Strike Force, the Department of Planning and everyone involved for their commitment to a project that will make a lasting impact on our city’s future.”
“We acquired 2 Peachtree less than a year ago with a vision to bring more residents and businesses to Downtown Atlanta,” said Dr. Eloisa Klementich, President and CEO of Invest Atlanta. “What captivates me the most with the project is the commitment to equitable downtown revitalization, the promise of more affordable housing, and the exciting potential for mixed-use spaces that will further the vibrancy of the area. 2 Peachtree is poised to become a model of what transformative development can create for cities and their communities.”
The City of Atlanta and Invest Atlanta worked with Jones Lang LaSalle (JLL) as its development advisor. Led by JLL Vice President Ryan Fetz in Atlanta, the JLL team will continue to advise Invest Atlanta through the remainder of the contract process.
