Tallest tower to join Atlanta’s skyline in 30 years reaches highest point
For those who haven’t noticed, a gigantic glass and steel structure has spent the past two years steadily climbing skyward in Midtown.
It’s hard to miss, especially now that it’s reached its highest point of 749 feet — joining only the upper echelon of Atlanta’s skyscrapers.
The project’s development team will gather late Friday morning to commemorate the 60-story tower’s construction milestone and celebrate its journey to becoming Atlanta’s fifth-tallest building. Developed by New York-based Rockefeller Group, the 1072 West Peachtree St. project is on track to open in the spring and will include 357 luxury apartments and eight floors of offices.
“Getting it delivered is half the battle,” John Petricola, senior managing director of the southeast region at Rockefeller Group, told The Atlanta Journal-Constitution. “Then it’s about making sure we’re addressing the needs of the market and whether our bet worked out.”
Since its inception, the skyscraper’s development has faced challenges.
Rockefeller Group purchased the 1-acre property, a former post office building, for $25 million in 2020, mere months after the COVID-19 pandemic disrupted the economy. Instead of overhauling plans, the developer pushed forward with its vision to construct the tallest skyscraper built in Atlanta in more than 30 years.
Despite the pandemic, Midtown’s development surge continued.
From 2018 to early 2024, Midtown added 46 buildings with another 20 either being proposed or beginning construction, according to the Midtown Alliance, an influential civic and business group. Those delivered buildings, which are a mix of offices, apartments, condos and hotels, have a combined estimated value of $8.4 billion.
Petricola said Midtown’s rapid development helped influence his company’s skyscraper plans. Kevin Green, president and CEO of the Midtown Alliance, said seeing the tower take shape is a full-circle moment.
“At 60 stories, this project doesn’t just change the skyline,” Green said. “I see it as a visible statement of momentum and shows our city is moving forward with confidence.”
Not ‘faint of heart’
Even with momentum, the tower is poised to debut during unsteady times, especially for the office market.
The Atlanta area has grappled with record amounts of available office space in the wake of the COVID-19 shutdowns. About 31% of all office square footage in metro Atlanta was available for rent at the end of September, according to data from real estate services firm CBRE.
That halt in demand also stopped the pipeline of new office projects. The 224,000 square feet of office space within Rockefeller Group’s tower is the last block of new workspace under construction in the Atlanta area, so there are no peers on the horizon.
“Office is not for the faint of heart. But it does make us feel better (to have less competition),” Petricola said.
The tower’s development is financed by a construction loan from Sumitomo Mitsui Trust Bank and Taisei USA alongside an undisclosed equity investment from Rockefeller Group’s parent company, Mitsubishi Estate New York. Petricola declined to provide investment specifics, adding that, “It’s not a cheap endeavor.”
The building’s office space is concentrated between floors 11 and 18. Brokers at Partners Real Estate were tapped to seek tenants.
The project so far has no tenants attached.
Petricola said he is confident that 1072 West Peachtree will draw demand from tenants seeking luxury space.
“We don’t have to be everything to everyone,” he said. “We just have to be that right space for that right tenant, and we think the trends are pointing in the right direction for us.”
High-rise living
Nearly all skyscrapers are classified as mixed-use because office or residential floors typically sit atop ground-floor retail space.
Rockefeller Group’s tower aims to balance all three, which Petricola described as a “very complex jigsaw puzzle.”
The bottom floor features 6,300 square feet of retail space along with different entrances for office workers and residents. Floors 2 through 9 will feature a handful of apartments alongside a 730-space parking deck. The office floors are sandwiched between amenity decks and the upper residential floors.
“You’ll have an unobstructed view for many of these units, that’s for sure,” said Green, the Midtown Alliance leader.
The building will offer Atlanta’s highest-altitude apartments, which creates its own design challenges. Petricola said outdoor deck placements were influenced by the anticipated needs of pet owners.
“It’s pretty easy to throw on a hoodie and take your dog outside if you live in a house or something,” he said. “But it’s not so easy when you’re living in a 60-story apartment.”
The tower’s amenities try to tick all of the boxes of luxury urban living. It will include a large athletic club, wellness areas, private spa treatment rooms, saunas, frost lockers, a Pilates studio and a pickleball court overlooking Midtown. The developer also boasts it will feature the neighborhood’s largest outdoor deck alongside a sky garden and a lawn for gatherings.
The spaces were designed by Atlanta-based TVS, while general contractor Turner Construction has been tasked with bringing it to fruition. Friday’s celebration is expected to highlight the tower’s construction crew.
“The men and women on this project have shown exceptional commitment and craftsmanship throughout this journey,” Kevin Jenkins, senior vice president of Turner Construction, said in a statement. “We’re honored to partner with Rockefeller Group on a development that celebrates their vision and stands as a new landmark on Atlanta’s skyline.”
About the Author
Zachary Hansen, a Georgia native, covers economic development and commercial real estate for the AJC. He's been with the newspaper since 2018 and enjoys diving into complex stories that affect people's lives.
