Atlanta Journal Constitution
Date: Monday, October 24, 2011
Two development companies are proposing a “Times Square South” project near the Georgia Aquarium downtown.
Bob Voyles’ Seven Oaks Company and David Marvin’s Legacy Property Group want to build a sizable office tower flanked by television screens that would mimic the feel of New York’s Time Square.
But until they have a tenant for it, the building will not break ground, Marvin said.
He and Voyles met while working on an expansion plan for Dunwoody event space and restaurant Villa Christina. Voyles brings the office background to the downtown project, Marvin said.
The 350,000 square foot building would rise at 285 Marietta, in the Lucky Marietta District that Marvin has been developing for more than a decade.
The estimated project cost for the new building, plus an addition to a hotel, would be $150 million, he said.
Marvin’s hoping to attract tourist destinations, high-tech office tenants, plus shops.
“I think this may be the right idea at the right time at the right place,” he said.
Atlanta’s commercial and retail vacancy rates remain at historic highs.