The tech entrepreneurs behind South Downtown's revival keep growing their footprint. Atlanta Ventures, led by David Cummings and Jon Birdsong, has added two Peachtree Street buildings totaling more than 20,000 square feet near Underground Atlanta — 77 Peachtree St. (13,300 square feet) and the neighboring 81 Peachtree St., known as The Bootery (8,800 square feet), vacant for years. Neither building is considered historic, so historic tax credits won't apply to their renovation; instead, the team plans to use them as construction home bases as work ramps up nearby.
The acquisitions bring Atlanta Ventures' South Downtown holdings to more than 50 buildings and 6 acres of parking lots, just east of Centennial Yards. The centerpiece of the group's plans is "Project Elle," an L-shaped collection of more than 25 buildings stretching from Ted Turner Drive and Mitchell Street around to Broad Street and up to Five Points. The project calls for over 100 adaptive-reuse apartments, 150,000 square feet of commercial space, and a 31,000-square-foot Atlanta Tech Village outpost called Sylvan, expected to break ground this month.
Atlanta Ventures aims to be under construction on the majority of Project Elle buildings by year's end, with a goal of having Broad Street holdings between Mitchell Street and MLK Jr. Drive complete in time for the 2026 World Cup. The largest building in the portfolio, 222 Mitchell — purchased out of foreclosure in March and previously slated for office conversion — is now being redesigned for housing. South Downtown's record store, Crates, is targeting a September opening along Hotel Row.
Original reporting by Josh Green for Urbanize Atlanta, published July 2024.
