Georgia-Pacific has abandoned its plan to convert the top of its 51-story downtown headquarters at 133 Peachtree Street into roughly 400 apartments, more than 130 of them below market. The 2024 proposal would have added ground-floor retail, a landscaped plaza fronting Peachtree and streetcar access, while keeping offices below.
Suzanne Maynard, the company's head of real estate development, said higher construction costs and market headwinds "changed the economic viability of the project at this scale." No ground was ever broken. Georgia-Pacific will stay in the pink-granite tower and do a straightforward office modernization instead, so the building is not for sale and the housing is off the table.
Why it matters
It erases about 400 planned downtown apartments, including scarce below-market units, and it is the second high-profile downtown office-to-housing conversion to collapse this year as conversion math keeps failing.
Sources and documents2 sources
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