Drapac Capital Partners is reviving plans to erect a $450 million tower, at 50 Ivan Allen Jr. Blvd NE — a project in the making for more than a decade. Over the weekend Stream Realty Partners published a real estate listing for Fifty — stylized as “FIFTY” — in an effort to start marketing its office spaces; the first public chess play for moving the development forward in recent memory. Alexander Hay, an executive director at Drapac, Monday confirmed the plans with What Now Atlanta (WNA).
“This project was designed in response to COVID-19, and we are launching it now to fill a critical need for COVID-responsible building design in the market,” Hay said in an email. “It reflects the future of work and the shift towards a balanced and greener future and the need for safer work environments. Clean air mechanisms, an entire level dedicated to health and wellness, and excellent end-of-trip facilities are a huge drawcard for workers, and in turn companies. The design is anchored on the idea that tenant wellbeing must be the top priority to create a successful building and lasting concept.”
Fifty would span 45 stories tall with 30 floors of office, 20,000 square feet of “customizable retail amenity,” and a “living, breathing building façade.” It is designed by Duda Paine Architects.
“The workday at Fifty not only looks different, it feels different,” according to the marketing materials. “From the moment you enter through the grand lobby, all five senses ignited through a variety of unique settings and amenities. From ground floor restaurants, direct access elevators from the VIP and regular parking decks, to a full floor amenity space that delivers an outdoor terrace with exterior elevator access, Fifty is designed to bring out the best in the workplace.”
Planned amenities include a fitness center, spa, and wellness facility, and on the 35th and 45th floors, a “Central Park” and “Sky Garden” would offer green living walls and garden areas, communal and collaborative areas, operable floor to ceiling windows, and a 750-foot rock-climbing wall at 750 feet above the street grid.
“We have been working with Duda Paine Architects and Drapac on this exciting project since early 2019,” Stream Realty wrote in a prepared statement shared with WNA Monday. “The project was ready to announce back in March, but then COVID hit. We have spent the last nine months working closely with Turan and his team to modify the building into the healthiest, most flexible office environment in the southeast. Providing a location that companies can confidently bring their employees back to is the only logical way to assure post-pandemic leasing.”
In order to advance Fifty, Hay said that Drapac needs to find an anchor tenant. That milestone would “kick off securing financing” and make way for bringing in a construction partner. Drapac does already own the land where Fifty is planned, Hay said.
