The real estate arm of MetLife on Wednesday unveiled renderings for the first phase of a mixed-use project in Midtown Atlanta that will include offices, retail, a hotel and residences.
The company and its partners revealed few details for the project at 17th and Spring streets, but said in a news release it the first phase will include a half-million square feet of top-tier or Class A office space and about 87,000 square feet of retail along with the hotel and an unspecified number of residences.
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James Murphy, a spokesman for MetLife, said the office and apartment towers will rise to approximately 25 stories, and the hotel is expected to be about 20 floors. The company is marketing the project to perspective commercial tenants, he said.
The parcel is said to be among dozens of sites submitted to Amazon as part of the state’s bid for the e-commerce giant’s planned $5 billion second headquarters.
Ultimately, Amazon has said it wants a campus to match its Seattle operations base, which spans more than 8 million square feet.
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“Midtown Atlanta is thriving with companies, retail outlets and restaurant venues relocating to the area, cementing the district’s reputation as a lively hub for work and play,” Tom Ryan, MetLife Investment Management southeast regional director for real estate, said in the release.
Real estate services firm JLL was selected as the master development manager for the broader 8.5-acre parcel in 2016. It was once slated for a high-rise, mixed-use development called Metropolitan Center, but that was shelved during the recession.
The property at 17th and Spring streets is currently home to a 1960s-era office building.
The MetLife tract has access to Spring, West Peachtree and 17th streets and is a short walk to the Arts Center MARTA station and the Woodruff Arts Center.
Midtown has become a magnet for top technology companies and young professionals. Thousands of residential units are currently in development in the area and the office market is extremely tight, particularly in Class-A or top-tier buildings.
NCR, for instance, opened the first phase of its new global headquarters near Georgia Tech’s Technology Square this year, and health insurer Anthem and developer Portman broke ground recently on a new tower for a tech hub nearby.
MetLife said that Miami-based Arquitectonica designed the project’s master plan, and Atlanta-based architecture firm Cooper Carry will lead building design.
MYAJC.COM: REAL JOURNALISM. REAL LOCAL IMPACT.
AJC Business reporter J. Scott Trubey keeps you updated on the latest news about economic development and commercial real estate in metro Atlanta and beyond. You'll find more on myAJC.com, including these stories:
- Krog Street Market developer plans redo of aging Atlanta hotel
- Secrecy surrounding Amazon HQ2 bid keeps Georgians in the dark
- Renderings show planned new look of Underground Atlanta
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