Gangbusters development near the confluence of Ponce City Market, the BeltLine’s Eastside Trail, and Ponce de Leon Avenue barrels ahead despite continued warnings of a real estate “reckoning” on the horizon—including, potentially, in Atlanta.
The latest major proposal to bubble up where Poncey-Highland meets Old Fourth Ward would replace a large parking lot just east of the BeltLine at 715 Ponce De Leon Avenue.
Representatives of Kimley-Horn & Associates engineering firm and The Galloway Law Group are scheduled to bring plans for a 250,000-square-foot office tower that would rise from the parking lot before the BeltLine Design Review Committee on Wednesday.
According to the BeltLine DRC agenda, the scope of the project would include: seven stories of office space; five levels of parking; and a single story for amenities at ground level. It would replace surface parking between Kroger, Ford Factory Lofts, and Green’s Beverages on Ponce.
In terms of stories, at least, that would make the project one level taller than its sibling tower next door, New City Properties’ 725 Ponce, where companies such as McKinsey & Co. and BlackRock have leased space.
The new development would include a 300-foot connection to 725 Ponce’s existing stairs and then onto the Eastside Trail, per the BeltLine DRC agenda. No zoning variations are requested.
We’ve reached out to applicants for renderings and a construction timeline and will update this story with any additional information that comes.
The Atlanta Business Chronicle reported in March that Atlanta-based Cousins Properties is teaming with New City and J.P. Morgan Asset Management to redevelop the parking lot. Cousins bought 725 Ponce in 2021 for a record price and entered a partnership with New City at that time to remake the adjacent parking lot, continuing a development surge in an area where commercial rents are among the highest in the Southeast at nearly $50 per square foot, the newspaper reported.
On the flipside of the BeltLine, Ponce City Market owners Jamestown are under construction on two towers and an office building that will surround the 1920s landmark with new housing and working options. And across the street from the 715 Ponce parking lot, another Atlanta development heavyweight, Portman Holdings, has submitted plans to the city for a mixed-use venture that would drastically remake multiple blocks on the north side of Ponce.
Follow us on social media:
• Poncey-Highland news, discussion (Urbanize Atlanta)