The tallest building in the historic Summerhill neighborhood would be transformed into more than 200 apartments and commercial space for restaurants, a food hall, and a music venue, according to plans filed with the city.
Pellerin Real Estate, a developer known for urban, mixed-use projects in the city’s southeast neighborhoods, purchased the 15-story hotel at 450 Hank Aaron/Capitol Ave. last year for $13.4 million. The building stands just yards from the Atlanta Olympic Cauldron Tower and adjacent to a sea of asphalt where Atlanta Braves fans once parked. The parking lots are now part of a massive Georgia State University redevelopment.
“Having once enjoyed a front row seat to the lighting of the Olympic torch and decades of Atlanta Braves baseball, the building and site are ripe for new life as an anchor between downtown and the ongoing redevelopment of Summerhill,” Pellerin Real Estate said in its application with the city. “The goal of the project is to reinhabit and reinvigorate the iconic and elegantly proportioned mid-century tower.”
By Dyana Bagby, Atlanta Business Chronicle