A New York developer is planning a massive project on the site of Compound, a famed Atlanta nightclub, which would transform the property into a mix of offices, shopping and hundreds of new residences.
Tishman Speyer wants to build 700 residences, 50,000 square feet of street front retail and 300,000 square feet of office space on the site at Brady Avenue near Marietta Street in West Midtown.
Details are sparse, but the scope of the project is outlined in a Development of Regional Impact application filed with the Georgia Department of Community Affairs. The filing was first reported by real estate publication Bisnow.
The project is expected to be completed in 2027, the filing states.
The West Midtown area has seen explosive growth since the Great Recession and the Tishman Speyer project would join other high-profile developments such as Star Metals and the Interlock.
A Tishman Speyer representative declined to comment.
Tishman Speyer’s most recent Atlanta project was Three Alliance Center, a top-tier office tower in Buckhead overlooking Ga. 400, which the company sold for about $268 million about four years ago. The company also pursued a deal to build a new mixed-use development at The Mall at West End, but that project did not come to fruition.
Compound has been a gathering place for celebrities and locals alike. The club at 1008 Brady Avenue NW features costume parties, themed events and concerts.
The Atlanta Journal-Constitution attempted to reach AG Entertainment, which operates the Compound. A message sent through the company’s website said the club was currently closed for renovation.
“We are excited to announce that (we) will be re-opening REAL SOON, that’s all I can say,” the message said.
Attempts to reach owner Alex Gidewon were unsuccessful.
