By Martin Sinderman
March 11, 2020
Global asset management firm Invesco Ltd. (NYSE: IVZ) agreed with developers of the massive mixed-use Midtown Union project to relocate its global headquarters there, taking up half of the 606,000-square-foot office building and bringing 500 new jobs to Atlanta.
The deal and the project’s groundbreaking earned Midtown Union the Mixed-Use Deal of the Year award in Atlanta Business Chronicle’s 2020 Best in Atlanta Real Estate Awards.
Phase One of Midtown Union is located at the northern gateway to Atlanta’s bustling Midtown market, encompassing the city block that is bounded by 16th, 17th, Spring and West Peachtree streets.
Slated for completion in 2022, this first phase will include approximately 606,000 square feet of LEED-certified, class A office space; an 18-story, 355-unit luxury residential tower; a 12-story, 205-key boutique lifestyle hotel; 30,000 square feet of restaurants and specialty retail; and more than 1,900 spaces of deck parking. It will also include construction of Arts Center Way, a private road that will feature green space, that will connect the center of Phase One of Midtown Union with the Midtown Arts District.
The entities bringing this project to life include partnerships comprised of MetLife Investment Management and Dallas-based Granite Properties, Midtown Union’s office partner and master developer; another MetLife partnership with Streetlights Residential, a Dallas-based multifamily developer; and Stormont Hospitality Group and The Allen Morris Co., both Atlanta-based, which will be developing the hotel in partnership with MetLife.