For one developer, Central Perimeter is what Buckhead was 20 years ago. And Atlanta as a whole is like Sydney in that same period. That's why it's able to handle a breathtaking mixed-use development that would encompass five towers.

An unnamed developer that has been in Sydney for the past decade has its sights set on 1117 Perimeter Center West for a rezoning and massive redevelopment that will include office on top of residential (both condo and for-rent apartments) as well as retail in five towers.

We spoke with Stonewalk Cos' Rob Forrest, who declined to identify the developer, other than it has ties to Korea, New Zealand and Australia. “If you look at the development cycle...Perimeter looks like Buckhead 20 years ago,” Rob says. On top of that, Rob says the developer sees Metro Atlanta a lot like Sydney in the '90s, just as that gateway city focused development on transit hubs as it suffered through lots of traffic and sprawl.

But as the area densifies, and residents focus on being near transit sites, Rob says the developers see the 1117 Perimeter West site as ideal for the breathtaking intensity of development it envisions. Of course, it's not the only player in town with designs on projects in Central Perimeter—from Hines Interests, to Ackerman & Co (with Abernathy 400 here) and the Mercedes-Benz new HQ campus.