23-Story Tower Planned for Centergy
Project to include student housing for Georgia Tech and office space.
Gateway Development and South City Partners LLC are teaming up on a project to expand the Centergy development and create a 23-story tower that would include student housing and office space.
The tower, which would cost $60 million to $80 million to construct, would be build next to the Centergy One building at Spring and Fifth streets, according to a report in the Atlanta Business Chronicle.
It would include 200 apartment units and 520 beds earmarked for Georgia Tech students.
That continues a trend of developers seeking to meet what they see is demand for more off-campus housing options for Tech and Georgia State University students.
Valdosta-based Ambling, which specializes in on-campus and off-campus student housing, said the $50 million project is earmarked toward Georgia Tech students.
Ambling also is redeveloping the old Ramada Hotel at 70 John Wesley Dobbs Ave. in Downtown for GSU students.
The other piece of the Centergy tower expansion is 100,000 square feet of office and research and development space.
The project also is to include an outdoor deck, a pool and outdoor fireplace, among other amenities, the Business Chronicle reported.