Global real estate developer Tishman Speyer, after exiting the Atlanta market when it sold off its last Buckhead office tower, is looking to re-enter the top market for foreign investment on the other side of town.
:no_upscale():quality(75))
Tishman Speyer is seeking to redevelop the property at 990–1008 Brady Ave., where the popular Compound nightclub now stands just north of 10th Street, into a development that would include 700 apartment units, 300K SF of office and 50K SF of ground-floor retail, according to the Development of Regional Impact application filed with the Georgia Department of Community Affairs.
The addresses involved include two separate buildings: the Compound and the Republic Sports and Social nightclub. The site itself is situated just west of Georgia Tech near King Plow Arts Center, next door to MARTA's Brady Avenue Bus Operating Facility.
A spokesperson for Tishman Speyer declined to comment.
The project would mark the New York real estate giant's return to the Atlanta CRE scene after leaving in 2017 when it sold its Three Alliance Center tower in Buckhead to Stockbridge Capital Partners for more than $260M. Tishman Speyer had been in talks to partner with Atlanta-based Elevator City Partners, formed by BeltLine visionary Ryan Gravel, to buy and redevelop the Mall at West End last year, but a deal never came to fruition.
Tishman Speyer's application indicates it expects the development to be complete in five years.
