Portman Holdings already has a Midtown Atlanta tower in the works called Coda. But perhaps the tower at Georgia Tech will be more like Portman's prelude for bigger things to come.
The Atlanta-based development firm on Monday said it is in “pre-development” for two additional towers adjacent to Coda at Georgia Tech’s Technology Square. The project would include a pair of skyscrapers totaling more than 610,000 square feet of office space, 140 residences, retail space, a bank and more than 1,000 parking spaces.
The proposed development would rise at 740 West Peachtree Street where a current SunTrust branch is located and it is across 4th Street just south of the current Coda building site.
“Portman Holdings is in pre-development for two speculative towers at 740 West Peachtree Street in Midtown Atlanta, totaling approximately 620,000 square feet,” Portman Director of Leasing Travis Garland said in a statement. “The market has exhibited strong interest in Coda — the cutting-edge collaborative office and data center under construction in Technology Square. This new opportunity at 740 West Peachtree will allow us to build on the momentum of Coda as well as the excitement around Midtown.”
Midtown has certainly been hot, particularly for tech firms. NCR is building a new corporate headquarters near Tech Square. Equifax, Sage and Worldpay US are among the companies that have expanded in Midtown in recent years. Developers including Selig and Hines have announced new office projects in the Midtown submarket as office vacancy has tightened.
The company declined further comment.
The proposal will go before the SPI-16 development review committee on Tuesday at 5:30 p.m.
Coda, a 21-story tower, is the second phase of the popular Technology Square development. The tower will feature office and research space for Georgia Tech and the private sector. The development will also feature a high-performance data center for sophisticated research and development.
Coda is expected to open in 2019.
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