Tom Cousins, Iconic Developer Of Southeast's Tallest Tower, Dies At 93

One of the people most responsible for shaping Atlanta into the metropolis it is today died on Tuesday. Tom Cousins, the late founder of Cousins Properties, was 93.

Cousins was a lion of Atlanta’s real estate industry who shaped Atlanta's skyline with 191 Peachtree Tower and what is today Bank of America Plaza, still the tallest building in the Southeast 33 years after it opened as the Citizens and Southern National Bank building.

He also purchased the St. Louis Hawks of the National Basketball Association and moved them to Atlanta, owned the city's first pro hockey franchise and built the arena where both played their games in the 1970s, according to the Atlanta Journal-Constitution, which first reported the news of his death. 

Besides skyscrapers and sports, his legacy includes championing several philanthropic causes and devoting the latter part of his professional career to lifting communities out of poverty, most notably East Lake in Atlanta.

“Tom Cousins, our visionary founder, not only shaped the Atlanta skyline — he shaped lives," Cousins Properties said in a statement. "Tom’s impact reached far beyond the buildings he developed. His legacy lives on in the culture of our company, in the transformation of Atlanta’s East Lake community, and in the extraordinary life he led. We are deeply honored to have been part of Tom Cousins’ remarkable journey. Our thoughts are with the Cousins family during this time."

An Atlanta native born in 1931, Cousins graduated from high school in 1948 and enrolled at the University of Georgia at the age of 16, graduating in the top 10% of his class with a degree in finance, according to the AJC.

Cousins founded his real estate business in 1958 after serving in the U.S. Air Force, becoming the largest homebuilder in Georgia before he turned 40, according to the AJC.

In 1962, Cousins took his company public and eventually focused on commercial real estate. The company built the Omni International Hotel, which later became CNN Center after Cousins sold it to Ted Turner. It constructed the Wildwood Office Park in Cobb County and sold it for a then-Atlanta-record $247.5M in 2004.

“Tom Cousins really was a standard-setter and a standard-bearer,” said Bob Mathews, executive chairman of Colliers in Atlanta. “He became the powerhouse with commercial [real estate], certainly with CNN Center. He is an entrepreneur to be admired.”

Cousins retired as the REIT’s CEO in 2002 and remained its chairman until the end of 2006, according to the AJC. 

“Tom Cousins was one of the most influential real estate developers of his generation,” The Integral Group CEO Egbert Perry said in a statement emailed to Bisnow. “His contributions to Atlanta’s growth are widely known, but his legacy also reflects a willingness to embrace new ideas and use his platform to advance them.”

Cousins also built Omni Coliseum, which hosted the Atlanta Hawks and his NHL team, the Atlanta Flames, before they moved to Calgary. The arena was demolished and replaced by State Farm Arena, where the Hawks play today. He also donated the land that now hosts the Georgia World Congress Center and was an influential figure in state and local politics. 

Town Lane founder Tyler Henritze, whose firm last year partnered with Cousins Properties to buy the Proscenium office tower in Midtown, said Cousins was respected for the relationships he forged with his office tenants that went beyond the mere transaction of a lease.

“To me, the dual role he played both as an owner and operator and investor, and also somebody who cared deeply about Atlanta, probably distinguished him the most,” Henritze said. 

Cousins' legacy and impact went beyond commercial real estate. 

In 1993, Cousins purchased the ailing East Lake Golf Club — home club of the golfing legend Bobby Jones — and began to restore it. His focus soon turned to revitalizing the East Lake community around it.

Working with the then-head of Atlanta Housing, Renee Glover, Cousins raised federal money to buy the troubled East Lake Meadows housing project across from the golf club and turned it into a hub of mixed-income housing, a school and a YMCA, according to the AJC.

At first, Cousins was skeptical that such a development model could succeed, Perry said. But eventually, forming the nonprofit Purpose Built Communities, Cousins helped to expand the mixed-income concept to communities across the U.S.

“Despite his initial skepticism, he listened, asked hard questions, and over time, became one of the model’s most visible champions. It was clear to me that he came to believe deeply in the power of a strategy that integrated housing, education, and community wellness,” Perry said. “Tom’s support helped bring national credibility to a new framework for urban redevelopment, one grounded in equity, opportunity, and long-term public and private partnership.” 

Cousins is survived by his wife, Ann Cousins, two children and several grandchildren. Funeral arrangements haven't been disclosed as of press time.

"My prayers are with the family and friends of Tom Cousins, whose vision helped shape our skyline, his generosity helped rebuild communities, and values helped define modern Atlanta,” Atlanta Mayor Andre Dickens said in a statement. “A man of deep faith who loved his family, his legacy will live on as a guidepost for what leadership can and should be in Atlanta.”