City Council Greenlights $650 Million Mixed-Use Project Near Peachtree Center

The Atlanta City Council on Wednesday night unanimously approved a $650 million mixed-use development at the edge of the central business district, fast-tracking one of the most ambitious downtown projects in recent years. The deal clears the way for the landmark 'Porter Square' complex, which will blend residential towers, offices, and retail along the busy Peachtree Street corridor, two blocks north of Five Points.

This approval lands at a crucial time. A flurry of activity is gripping the city’s core as developers and city leaders try to address both surging demand for downtown housing and ongoing concerns over underutilized parcels near historic Woodruff Park. With the city soon to host two major conventions and more out-of-state investment flowing to neighborhoods close to Mercedes-Benz Stadium, the clock is ticking on revitalization efforts.

Revamping the Urban Spine

The new project will stretch from 166 Peachtree St NW to the corner of Baker Street, on a block currently home to surface parking lots and an aging low-rise strip. Developer Southcity Partners, already known for their Station R apartments in Edgewood, will lead construction. Porter Square is set to deliver 28- and 42-story residential towers, an eight-story office building, a grocery store, and over 60,000 square feet of ground-level commercial space. The site sits just west of the AmericasMart complex and a block from the Peachtree Center MARTA station, reinforcing the city’s push for dense, transit-adjacent growth.

Notably, the plans include a new 16,000-square-foot plaza designed to connect with Woodruff Park and create a seamless pedestrian link down to Auburn Avenue. This amenity is a nod to public space and urban connectivity, which the city’s Office of Planning has prioritized in recent development incentives. "Over the last six months we’ve seen an unprecedented volume of proposals around Peachtree and Courtland," a senior planner told Daily Atlanta, pointing to similar recent activity around the Reverb by Hard Rock hotel and the nearby Coda Tech Square expansion.

Numbers Behind the Approval

According to city planning documents, the project is expected to bring 470 new rental units (at least 60 earmarked for affordable housing under Invest Atlanta’s latest initiative), 220,000 square feet of office space, and parking for up to 1,100 vehicles. Atlanta’s average rental rate for new downtown apartments hit $2,090 in May—up 6% from last year—in part reflecting the ongoing demand for amenity-rich, high-rise living near the BeltLine and Midtown.

The project secured a $35 million tax abatement package via the Atlanta Development Authority, drawing criticism from some neighborhood activists, though council members cited a Regional Commission study showing a 21% downtown retail vacancy rate, highest since 2014. “We need more feet on the street,” said one land-use committee member during Tuesday’s hearing.

What Comes Next for Downtown Residents

Shovels are expected in the ground by November, with phase one targeting completion by late 2028. Local businesses on Peachtree Street can expect periodic road closures and disruption, but the city promises advance notice and dedicated pedestrian walkways along the block between Baker and John Portman Boulevard. Those looking for affordable units can register with Invest Atlanta for notification lists, while retailers interested in leasing ground-floor space can contact Colliers International’s Atlanta office, which is brokering commercial leases.

As the city marks July 4 with fireworks at Centennial Olympic Park, local residents now find themselves on the cusp of an urban core transformation that’s been two decades in the making. City officials say they will host a public open house at City Hall next month to present updated renderings and field questions from the community.