A rendering of the renovated Medical Arts Building (Courtesy Invest Atlanta)

Curbed Atlanta reports that the new owners of the dilapidated Medical Arts Building in Downtown plan to restore the 1920’s Beaux-Arts landmark into an office tower.

Global X, which bought the building at 384 Peachtree Street earlier this year, has requested $3 million of support from the Beltline Eastside Tax Allocation District for the project. The estimated cost for the renovation is $40 million.

When completed, the building will offer 85,000 square feet of Class A office space targeted to “community-oriented, nonprofit organizations” as well as ground floor retail space.

The building, listed on the National Register of Historic Places, was developed by four prominent local doctors – Cliff Sauls, Grady E. Clay, James E. Paulin and Malvern D. Huff –  who saw the growing need for state-of-the-art medical offices in the city. It was also one of the first buildings to have a covered parking garage.

The dilapidated Medical Arts Building looms over the Downtown Connector. (Photo by Gene Philips)

Collin Kelley

Collin Kelley has been the editor of Atlanta Intown for two decades and has been a journalist and freelance writer for 35 years. He’s also an award-winning poet and novelist.