Dec 4 2006
Regent Partners, LLC has acquired the last remaining undeveloped parcel of land adjacent to the Tower Place complex. The 4.54 acre parcel includes both land and air rights, and is zoned for 1.5 million square feet of development. It was purchased from TRC Two Capital City Plaza, LLC for an undisclosed price. The parcel, which is currently used as extra parking space for the Capital City Plaza, will be accessed by an extension of Tower Place Drive; allowing for the opportunity to create an elegant, courtyard style front arrival plaza overlooking the recently named Paul Coverdell Park. The Site will also have a Peachtree address.
"This is a strategic and significant acquisition for Regent Partners," said David Allman, Chairman, Regent Partners, LLC. "It will allow us to fulfill our vision for the Tower Place development and continue to enhance the work/life experience of the Buckhead community with architecturally significant development in a timely and well-planned manner. We are particularly excited by the prominence this piece of property has from GA 400, and believe it will make an excellent corporate headquarters for an organization seeking a marquee building," added Allman.
Regent Partners is presently in the planning stages for the property and has not determined a timeline for development. However, Allman says, "We certainly envision a mixed-use purpose, possibly with hotel, office, and a residential component -- but nothing is firm as of yet."