A $400 million development unveiled March 4 will bring a new mixed-use skyscraper and a new “luxury” housing tower to Buckhead’s Peachtree Road by 2022.

The development will go up on what is now a 3-acre parking lot along Ga. 400 and the Buckhead MARTA Station, nestled between the Buckhead Station shopping center on Lenox Road and the building containing South City Kitchen on Peachtree Road.

An illustration of the future mixed-use skyscraper as seen from Peachtree Road. (Special)

Buckhead-based Regent Partners and Atlanta-based Batson-Cook Development Company are teaming on the project with TIER REIT, a Dallas-based real estate investment trust.

The new mixed-use skyscraper, which will be numbered 3354 Peachtree Road, is shown as around 40 stories tall in illustrations released by the developers. It will contain around 560,000 square feet of space and around 60 luxury condominiums, according to a press release. The office space is described as “class-AA,” an industry term generally meaning luxurious offices with high rents.

The housing tower will have 300 units and will be numbered as 3356 Peachtree Road, the press release says.

Construction is expected to start late this year.

An illustration of the 3354 Peachtree Road skyscraper as seen from Ga. 400. (Special)

“This is a critically important site for Buckhead, and with TIER we have an excellent opportunity to create an iconic mixed-use tower in the South’s most dynamic submarket,” said David Allman, the chairman of Regent Partners, in the press release. “With only one Class AA office building delivered in the past 10 years, the central business district is primed for a generational office project.”

That most recent office skyscraper is Transwestern’s Three Alliance Center at 3550 Lenox Road.

The new development’s site would be adjacent to a large park capping Ga. 400 that is being planned by the Buckhead Community Improvement Districts. Regent Partners is a BCID member and Allman chaired its board from its founding 20 years until this January.

An illustration of the future entrance area of the 3354 Peachtree Road development. (Special)

The development site appears to one of the Buckhead properties that was submitted without a specific address in 2017 as part of Georgia’s initial bid for Amazon’s second headquarters. It was among the properties later rejected by Amazon, and Georgia’s overall bid was ultimately unsuccessful.

“The Regent partnership never had discussions about Amazon, but I understand the state could have included it on their list of potential sites,” said Thornton Kennedy, a spokesperson for Regent.

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John Ruch

John Ruch is an Atlanta-based journalist. Previously, he was Managing Editor of Reporter Newspapers.