The Georgia-Pacific Tower is set for a major transformation.
The uppermost floors of the 52-story building at 133 Peachtree Street will be converted into 400 apartments, a move reflecting the growing trend of repurposing office space into residential units, the Atlanta Business Chronicle reported.
Georgia-Pacific’s redevelopment plan also includes 125,000 square feet of entertainment, restaurant and retail space, while 600,000 square feet will remain office space. The cost of the project wasn’t disclosed.
Georgia-Pacific and its parent company, Koch, will remain anchor tenants in the downtown Atlanta landmark, which is 80 percent leased. The revamp is scheduled for completion in fall 2027. A future development could add a hotel, more housing and retail.
“The office landscape has changed, and we recognize that the adaptive reuse of our site and office tower can create greater long-term value,” said Christian Fischer, President and CEO of Georgia-Pacific.
It could also drive economic growth for the company and the city, he said.
The office-to-residential conversion aligns with a broader push by local leaders to create active communities in downtown Atlanta, especially because Atlanta is a host city of the 2026 FIFA World Cup.
This redevelopment comes as Downtown Atlanta’s office space faces increasing vacancies, with nearly 32 percent empty this summer, according to CBRE. About 5.5 million square feet of downtown’s office space is vacant, and Central Atlanta Progress estimated that close to 8 million square feet of office space could be vacant by next year.
Atlanta Mayor Andre Dickens praised the project for its potential to diversify housing options and stimulate economic activity. The project joins other significant developments, such as Centennial Yards and CP Group’s the Center, which aim to enhance retail and entertainment offerings downtown.
—Rachel Stone
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