BOOST FOR OLD MACY’S BUILDING

When Macy?s closed its downtown store in 2003, it left a hole in the heart of the city. Macy?s and its predecessor had operated in the 1927 building for decades. But the building now has life again, and even more renovations soon will be underway, thanks to $12M  in New Markets Tax Credits from Imagine Downtown, an affiliate of the Atlanta Development Authority.
 
Here?s a pic we snapped this spring. The building's owners, a group called 200 Peachtree, are spending a total of $35M  to redevelop the first three floors  of the old store into ?a major mixed-use retail  and entertainment destination.? So far, they've opened event space and Meehan?s pub. Owners report it's outperforming other Meehan?s locations in Vinings and Sandy Springs.
Plans call for Sweet Georgia's Juke Joint to open in the fall. The ADA funding will be used to build a conference center, meeting rooms, retail space, and a space for art shows and corporate events called The Gallery. Plans also call for connecting the former Macy?s to the Westin hotel, which is (as you see in the first pic) next door.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Atlanta Newsletters
Related Stories

Fed Raises Benchmark Rate, Intensifying Borrowing Cost Blues

1375 Peachtree: A Bespoke Design Redefining The Midtown Atlanta Workspace

Discussing Strategic Capital Stack Structuring At Bisnow's Sept. 30 National Finance Event

Furniture Outlet The Dump Is Getting Dumped In Atlanta

GTIS Partners Rebrands As Brightshore Capital, Launches $250M Debt Platform

'Beyond A Routine Wobble': 10-Year Treasury Clears 5% Ahead Of Key Fed Meeting

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader

Bucks County Mall Closing As Owners Prepare Redevelopment Plans

Sales Of Lower-End Apartments Surge In Philly As Landlords Face Financial Issues

Trump's DEI Crackdown Is Creating New Risks For Landlords That Lease To The Government

Airbnb Launches $250M Fund To Invest In Affordable Housing

Judge Dismisses Suit Alleging Alexandria Misled Investors Over Portfolio Strength