High-rise development site in prime downtown location hits market

Josh Green

Mon, 01/06/2025 – 13:47

A strategically located property that could help continue downtown Atlanta’s development boom leading up to the 2026 FIFA World Cup has hit the open market.

The 314 Luckie St. property, recently listed with commercial real estate firm Bull Realty, totals about .84 acres between two main downtown arteries.

It’s marketed as a “high-rise development site” with a “prime” location, in that Georgia Aquarium is across the street, and major downtown draws such as Centennial Olympic Park, Mercedes-Benz Stadium, State Farm Arena, and other attractions are minutes away by foot.

Next door to the south is the Hyatt Place Atlanta Centennial Park Hotel, which opened in 2019, and the under-construction, 183-room Moxy by Marriott hotel project.

Bull Realty

The corner site’s Luckie Street frontage (and former lounge building) today. Google Maps

Bull Realty brokers have listed the property for $12.5 million and say its SPI-1 SA5 zoning calls for dense development. That could be a hotel, multifamily, or mixed-uses including retail.

One potential plan, as drawn up by Goode Van Slyke Architecture, calls for roughly 200 apartments across 18 stories. Other components would be 10,500 square feet of retail and 240 parking spaces.

Attributes of the site—positioned along Luckie, Marietta, and Simpson streets—include three street frontages, a “Very Walkable” Walk Score of 86, and “Excellent” Transit Score of 75.

The site is used as public parking today. One section was formerly home to Encore Hookah Lounge, an establishment forced to close by the city in 2022 following a security guard’s fatal shooting and what authorities said was 171 calls to police in previous years.

Potential multifamily scheme for the site as seen from Marietta Street. Any development plans would require zoning and permit approval. Goode Van Slyke Architecture/Bull Realty

Overview of the .8-acre site from above Marietta Street, looking north toward Midtown.Bull Realty

As a parking lot today, the site generates $750,000 annually after expenses. According to Bull Realty, the parking use “can be continued to hold for future development.” Or—as ATL urbanists would contend—not.

Head up to the gallery for more 314 Luckie St. context.

…

Follow us on social media:

Twitter / Facebook/and now: Instagram

• Downtown news, discussion (Urbanize Atlanta)