Emory purchases Peachtree Street property to increase academic presence in Atlanta
Jan. 4, 2019
Central Atlanta Progress (CAP) and Emory University jointly announce the sale of the 477 Peachtree St. property to the university, effective Dec. 21, 2018.
“We are pleased that 477 Peachtree has transitioned into the hands of an Atlanta institution as important and committed as Emory,” says A.J. Robinson, CAP/ADID president. “In 2018, it was our mission to find the best possible candidate to shepherd the building into its next chapter, and we’re confident it is in great hands.”
According to Robin Morey, Emory’s vice president for planning, the purchase of the 28,577 sq. ft. property enables the university to establish an increased academic presence in Atlanta.
“This investment will make Emory’s resources more accessible to the greater Atlanta community. It also will support our academic mission across the arts, the sciences and the humanities,” says Morey.
Given that the site is across the street from the Emory University Hospital Midtown facility, it is anticipated that the space also may include supporting Emory Healthcare services.
The property is the location of the former Peachtree-Pine homeless shelter, which closed in 2017.