Rockefeller Group broke ground on 1072 West Peachtree, a 60-story mixed-use project that will transform Atlanta’s Midtown skyline and be the city’s tallest residential building.
At 730-foot high, the building will surpass the 723-foot Westin Peachtree Plaza Hotel to become Atlanta’s fifth-tallest high-rise. It will also be the tallest tower built in more than 30 years.
1072 West Peachtree will bring more than 350 luxury apartments, 224,000 square feet of class-A office space and 6,300 square feet of street-level retail to the corner of 12th Street and West Peachtree. Atlanta-based TVS designed the building, which will host Midtown’s largest outdoor-amenity deck, according to backers.
At a ceremonial groundbreaking on July 26, Rockefeller Group and representatives of Japan-based Sumitomo Mitsui Trust Bank and Taisei USA marked the close of construction financing for the trophy tower.
“A development of this scale and prominence underscores the importance of the Southeast, and in particular, Atlanta, as the economic epicenter of the region,” said Mario Barraza, senior director, head of real estate, at Sumitomo Mitsui Trust. “Our participation on 1072 West Peachtree is another great example of our partnership with Rockefeller Group to invest in transformational real estate developments in the U.S.”
Sumitomo Mitsui Trust is providing the financing through a senior loan. Rockefeller Group is the project’s lead developer, while a joint venture between Rockefeller Group, Taisei USA and Mitsubishi Estate New York is providing the equity.
1072 West Peachtree will bring more than 350 luxury apartments, 224,000 square feet of class-A office space and 6,300 square feet of street-level retail to the corner of 12th Street and West Peachtree. Courtesy of 1072 West Peachtree.
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