The Georgia Board of Regents approved a naming rights proposal Tuesday for the third phase of Technology Square that includes several million dollars for the project.
The project will include a building called the “George Tower,” named after Bill George, who graduated from Georgia Tech in 1964 and held executive positions at Honeywell, Litton Industries and Medtronic. George and his wife, Penny, agreed to donate $18.75 million to Georgia Tech as part of the naming rights agreement. George is currently a Harvard Business School professor.
Technology Square, located near the North Avenue MARTA station in Midtown Atlanta, opened in 2003 as a research and technology hub for Georgia Tech students, researchers and start-up companies. It includes a hotel and conference center. The second phase opened in May.
Phase III will house 400,000 square feet for the school of Industrial and Systems Engineering. Construction is scheduled to start in late 2021, Georgia Tech President Ángel Cabrera told The Atlanta Journal-Constitution.
“It’s another important point in the growth of Tech Square,” Cabrera said.
About $30 million is recommended for construction funding in this year’s state budget for the project. The entire construction costs are estimated at $200 million. About $75 million will come from private donations, Georgia Tech officials said.
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