Opened in 2003, the 1.4 million SF Georgia Tech-sponsored project encompasses education, research, hospitality, office and retail serves as a new urban 'main street' for the campus and the Midtown Atlanta community. Revitalizing 8 blocks of an area of deteriorated & abandoned buildings and lots, the $380 million project is recognized nationally as a standard of urban development.
|Total developed area:
5th Street Bridge:
|1.4 million SF on 8 city blocks
Structured parking for 3,000 cars
New park-like, vehicular and pedestrian 5th Street bridge
New streetscape and roadways
120,000 SF of retail/restaurant space, including the Barnes & Noble at Georgia Tech campus bookstore
Georgia Tech's Scheller College of Business
189,000 SF of classrooms, offices, and learning resource space, including Executive Education and Interdisciplinary Centers
The concept of Technology Square originated with the 1996 Olympic Games. For over fifty years, the I-75/85 interstate roadway separated Georgia Tech
from Midtown, both physically and mentally. This
separation contributed to a steady decay of the Fifth Street area, creating
problems for the community and the Institute. "During
the Olympics, we had to use the Fifth Street entrance to get to campus," says
Georgia Tech President Wayne Clough. "Not long before, we had enunciated a vision
for our future: to create the technological university of the 21st century." At
the time, the decaying neighborhood argued against such vaunting ambition.
Based on several expansion needs at Georgia Tech, there was an opportunity to reconnect the university with the local community and aid in the city's revitalization efforts in Midtown. Funded by the university's foundation and private partners, Technology Square encompasses education, research, hospitality, office, retail and residential forming a complex that is far more than the sum of its parts. The university created an urban mixed-use development that serves as a new "main street" for students as well as for nearby residents and commercial development.
Technology Square is an eight-building complex that occupies five entire city blocks. It has spurred a thriving high-tech corridor, a place where people can be connected and inspired as they embrace today's unique challenges and opportunities. The broad sidewalks are animated with retail, cafes, an ice cream parlor, shops, hotel, and a bookstore all fed by new on-street parking. The new Fifth Street Bridge, tripled in width with lawn and tree-lined shoulders, is a gathering place for students and residents and the essential link between Georgia Tech and Midtown. MARTA rail stations, located at North Avenue and Tenth Streets, are connected to Tech Square by the new trolley provided by Georgia Tech. Existing infrastructure and road systems were improved. Streetscape improvements such as wide sidewalks and bike racks along Fifth Street encourage use of walking and biking, in lieu of dependence on the automobile.
Susan Mendheim, President and CEO of the influential Midtown Alliance, says it
is a courageous project. "The fact that one of the most respected academic
institutions in the country built a campus in a severely depressed area made an
incredibly strong statement about the viability of that part of town. It took a
lot of courage to develop in an area that wasn't very promising."
"Georgia Tech has set a standard for urban design using ground-floor retail to complement the educational mission," says Shannon Powell, Vice President of Planning and Economic Development for Atlanta's Midtown Alliance. "Tech has shown what a major institution can do to make a real contribution to an urban community."
The multi-building Technology Square is home to the Scheller College of Business, Georgia Tech Hotel and Conference Center, the Global Learning Center, the Economic Development Institute (EDI), the Advanced Technology Development Center (ATDC), the Center for Quality Growth and Regional Development, the Georgia Tech VentureLab, the Georgia Electronic Design Center, a Barnes & Noble bookstore and the Georgia Tech Foundation, among other entities.
The combination of Technology Square, Midtown and the larger Georgia Tech campus is a deliberate gathering of elements to create one of the nation's premier high-tech business neighborhoods. It enhances the quality of community life and promotes a model of smart urban growth. This nexus of so many resources, brought together within a broader vision for a live, work, learn and play community, has not only changed the face of Midtown. It is also unique in the nation, and it embodies Georgia Tech's vision as the leading technological university of the 21st century. [Return to top of page]
Deal of the Decade
2003 Best in Atlanta Real Estate:
Deal of the Year
2004 Most Outstanding Development
2004 ULI Atlanta Development of the Year
2004 ULI Award for Excellence (The Americas)
2003 Golden Shoe for Pedestrian
2003 Development of Excellence
2003 Award of Merit
5th Street NW and Spring Street NW
Jones Lang LaSalle
Two Securities Center
3500 Piedmont Road, NE, Suite 600
Atlanta, Georgia 30305
Newcomb & Boyd
Holder Construction Company
75 5th Street, NW, Suite 1000
Atlanta, Georgia 30308
Kim King Associates
Newcomb & Boyd
- Resourceful use of land by forming an alliance with the Midtown neighborhood and reclaiming a deteriorating area adjacent to campus
- Utilization of the stability and vitality of Georgia Tech to revitalize an entire urban neighborhood
- Preserving and enhancing of our environmental resources by achieving Silver LEED Certification for its Scheller College of Business (13th building in the USA at the time of certification)
- Creating a highly innovative development team combining the resources of Georgia Tech, the Georgia Tech Foundation, as well as private developers, to create intricate finance and development techniques tailored to each component of the project
- Initiating new successful business and research centers while supporting an emerging residential community of young professionals
- Innovative design and planning features include the creation of highly visible signature glass "lanterns" reoccurring on the facades and providing institutional "identity" as well as serving as an icon to traffic on Interstate 75/85
- Filling a special societal and market need by adding over one million square feet of new space to the university while bridging the often controversial gap between town and gown
- Establishing a "critical mass" of retail and commercial "main street" to be shared by Georgia Tech and the Midtown community
Significant Events Relating to Project:
- Investment of $380 million in a formerly blighted area.
- Expansion of Fifth Street Bridge connecting the Georgia Institute of Technology to Midtown (after 50 years of separation).
- Full lease-up and occupancy of both projects.
- Full compliance with Blueprint Midtown standards creates a pedestrian friendly "place" that is a connecting point for private industry, government and academia. [Return to top of page]
|Wikipedia article||Extensive history and information|
|Development and General Information
|Leasing Retail Storefront at Tech
|Leasing Incubator Space at Tech Square|