By Clare S. Richie
Atlanta’s oldest standing skyscraper, the iconic Flatiron Building, just received a 40,000-square foot renovation courtesy of Lucror Resources, a private equity fund that partnered with Jim Cumming. Now called FlatironCity, the redevelopment includes individual work desks available monthly, traditional office space with multi-year options, and a street-level food hall. All tenants will be moved in by the end of the June, with a grand opening later this summer.
“Our focus is creating Next Gen office space, which reflects today’s workforce. Hence, the lease model is flexible thereby not financially encumbering young companies. The spaces range from open collaborative spaces with single desks to private offices. Companies can also benefit from economies of scale as they share common spaces such as break-rooms, conference rooms, lounge areas, et al,” Arun Nijhawan, Managing Principal at Lucror Resources, explained.
The triangular-shaped building is located across from Woodruff Park on the wedge-shaped block between Peachtree, Poplar and Broad streets. It was completed in 1897, five years before its Manhattan counterpart. Just like in the early 1900s, FlatironCity is at the center of pedestrian activity.
The renovation upgraded the building’s interior space while preserving its historic integrity to the delight of their tenants, such as the nation’s second Microsoft Innovation Center, the Women’s Entrepreneur Initiative (WEI), Access to Capital for Entrepreneurs (ACE), Launch and Aegex.
“Each of the organizations housed in or partnered with FlatironCity have the same mission – build better businesses. And each of them is seeking collaboration to do so. Strong economic opportunities are born when government, academia, enterprise level business and entrepreneurs work together,” FlatironCity Manager Katie Ryan explained.
According to Nijhawan, the Microsoft Innovation Center will provide access to technology and workshops to other tenants. And Georgia Tech’s Advanced Technology Development Center (ATDC) will have a media cluster, host CEO roundtables, and have a resident serial entrepreneur with office hours at FlatironCity.
“ACE is thrilled to join Flatiron City in a shared commitment to support dynamic small businesses who are the future of this great City,” ACE Chief Development Officer Barbara Richardson said. The nonprofit provides small business owners with loans and business coaching to help build sustainable businesses.
To foster the Downtown live, work, play environment the lobby will house an Italian eatery and market with several food stations: 1897 Caffe – an Italian coffee bar; Figo City Fast – Figo’s to-go pasta concept; Juice Squared – fresh juice; and Kitchen 13 – Italian soups and sandwiches. Tenants and passersby will be able to enjoy these offerings in the open lobby or along the Broad Street sidewalk.
“They did a great job updating the building with the latest technology and beautiful decor, while keeping its historic charm. And Downtown Atlanta has so much life and activity that we can offer our employees rich experiences inside and outside of the office. Now that we’ve settled into the 9th floor, we can’t imagine being anywhere else,” Launch Creative Director Javier Santana said.
Nearly 120 years ago, the Flatiron Building housed traditional businesses, individual professionals like doctors and lawyers and street level retail like groceries, a florist and a tailor. While the space configurations, leasing options, technology, and food options are modern, FlatironCity is a nod to the past and to the idea that Downtown is still a vibrant incubator for new business.
“We are committed to the revitalization of the downtown community. There is so much momentum around this part of the city and we feel both empowered and humbled by being a part of something this big. Downtown represents an urban lifestyle that resonates with both our management team and our tenants. Being in a neighborhood that encourages transit and values walkability was an absolute must for us,” Ryan said.