What great news: Historic Macy's building on Peachtree, formerly Davison's, to become shops and restaurants in $30 million redo. Please do it right!
New details emerged Friday about the planned redevelopment of the former Macy's building downtown, including the investors' total commitment —- about $30 million.
More than 20 investors calling themselves the 180 Peachtree Retail Group want to turn the first three floors of the historic building into shops and restaurants.
The plan includes opening a prepared-foods marketplace on the third floor, under the guidance of a soon-to-be-named noted local chef, said Robert Patterson, managing partner of the investment group.
"It's going to feel much more like a Faneuil Hall Market Place [in Boston] with boutiques and restaurants," Patterson said.
The building's arched windows will become lighted openings [THIS PART CONCERNS ME A BIT] fronting a wall of glass set back about 25 feet, Patterson said. A grand hallway will be lined with retail.
Patterson said a recent study showed downtown needs about 1 million square feet of additional retail to serve office workers, students, residents and visitors.
The yet-to-be-named retail center could open in late summer or early fall of 2009, Patterson said.
The top five floors of the eight-story building will remain office space owned by the Peachtree Carnegie limited partnership.
I have a suggestion for a name for the building. Davison's.