Friday, August 14, 2009

Downtown Macy's building update

The AJC has an article about the Downtown Macy's building in today's paper. The plans have been scaled down a bit:
The Grand Atrium and The Gallery events spaces are scheduled to open in early 2010, along with two restaurants, Meehan’s Public House and Sweet Georgia’s Juke Joint. Later, a traveling exhibits venue will open on the ground floor.
Previously they were planning on much more retail space, as opposed to event space. Both restaurants seem slightly touristy theme-restaurant type of places, although both have existing locations elsewhere.

My real estate market analysis class last year actually did a market study for this building, so I'm not surprised that the developers scaled down the amount of retail they were programming. There simply isn't that much demand for traditional retail Downtown, despite the growth of GSU and new developments like Allen Plaza and Renaissance Walk. Well, there is decent demand for the lunch crowd, and there are pockets of demand for GSU students and other residences. Still, when you are competing with Lenox as well as hipper intown areas like Virginia Highland or Little Five Points, attracting the small amount of people living Downtown is tough.

Another odd note from the AJC article - they have decided to change the name of the building from 180 Peachtree to 200 Peachtree. I guess they though a round number would be easier to remember? I feel decidely "meh" on the new name.

1 comment:

  1. I'm really glad that this building is going to be in use again. I've always liked the looks of it. No matter what number they give it I'll stubbornly keep referring to it as the Macy's Building.

    It would be cool if there was enough foot traffic by locals in this area to support retail. Maybe some day.


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