Drapac Capital Partners is reviving plans to erect a $450 million tower, at 50 Ivan Allen Jr. Blvd NE — a project in the making for more than a decade. Over the weekend Stream Realty Partners published a real estate listing for Fifty — stylized as “FIFTY” — in an effort to start marketing its office spaces; the first public chess play for moving the development forward in recent memory. Alexander Hay, an executive director at Drapac, Monday confirmed the plans with What Now Atlanta (WNA).
“This project was designed in response to COVID-19, and we are launching it now to fill a critical need for COVID-responsible building design in the market,” Hay said in an email. “It reflects the future of work and the shift towards a balanced and greener future and the need for safer work environments. Clean air mechanisms, an entire level dedicated to health and wellness, and excellent end-of-trip facilities are a huge drawcard for workers, and in turn companies. The design is anchored on the idea that tenant wellbeing must be the top priority to create a successful building and lasting concept.”
Fifty would span 45 stories tall with 30 floors of office, 20,000 square feet of “customizable retail amenity,” and a “living, breathing building façade.” It is designed by Duda Paine Architects.
“The workday at Fifty not only looks different, it feels different,” according to the marketing materials. “From the moment you enter through the grand lobby, all five senses ignited through a variety of unique settings and amenities. From ground floor restaurants, direct access elevators from the VIP and regular parking decks, to a full floor amenity space that delivers an outdoor terrace with exterior elevator access, Fifty is designed to bring out the best in the workplace.”
Planned amenities include a fitness center, spa, and wellness facility, and on the 35th and 45th floors, a “Central Park” and “Sky Garden” would offer green living walls and garden areas, communal and collaborative areas, operable floor to ceiling windows, and a 750-foot rock-climbing wall at 750 feet above the street grid.
“We have been working with Duda Paine Architects and Drapac on this exciting project since early 2019,” Stream Realty wrote in a prepared statement shared with WNA Monday. “The project was ready to announce back in March, but then COVID hit. We have spent the last nine months working closely with Turan and his team to modify the building into the healthiest, most flexible office environment in the southeast. Providing a location that companies can confidently bring their employees back to is the only logical way to assure post-pandemic leasing.”
In order to advance Fifty, Hay said that Drapac needs to find an anchor tenant. That milestone would “kick off securing financing” and make way for bringing in a construction partner. Drapac does already own the land where Fifty is planned, Hay said.
11 Responses
If this actually happens I wonder if they would preserve the Greg Mike mural. would make a great backsplash for an underground lounge
Looking forward to the addition to the ATL skyline. Hope it actually happens.
15 levels of parking in downtown? SMH
Right and you are right between two marta stations smh this city will never get it
Quite a few Atlantans don’t want to deal with public transportation– particularly to Downtown…
City planners has to stop approving these types of plans with 15 level parking near RAIL transit….SMH!!
Marta is not COVID-responsible………
Hope it goes through great addition to the skyline
Why?
First of all, it’s in the wrong place. No one wants to work downtown if they can help it.
Secondly, commercial real estate is about to see it’s biggest plunge in decades. At least half the jobs in office buildings are NEVER going back to the office. Maybe more.
And the ones that do go back to offices will be more likely to be in smaller, downsized buildings.
COVID has proved the whole idea of making employees come to a specific place to work is ridiculous on its face, and costly to boot. Companies can set up the infrastructure to let people work from wherever for the cost of a couple of months rent of the equivalent cubicle/office space.
We are about to see the biggest collapse in commercial real estate history, and any developer that isn’t looking to retask it’s existing buildings post-COVID is literally insane.
I disagree, downtown atlanta will start thriving again. Georgia State University is getting better, south downtown will be cleaned up and have affordable housing, its close to close to city hall and government buildings, and there are new projects like centennial yards being approved which will make downtown atlanta to thrive just like how midtown is today. Wait for 10-15 years, it will thrive look it did in the 1990’s.
Very happy to see plans for this area to be developed. It’s currently an unattractive lot & this huge development would fill in that huge gap in the downtown skyline perfectly.