Updated renderings and a firmed-up schedule are giving downtown Atlanta a clearer look at new senior housing planned just north of Underground Atlanta. Branded Five Peachtree Senior, the project would deliver 65 rent-capped apartments for people aged 62 and older and is being pitched as the first phase of a broader plan to remake the Two Peachtree block.
According to Invest Atlanta, the agency’s board approved a $2 million Eastside Tax Allocation District grant to help fund the project. Construction is expected to begin late in the second quarter of 2026, with completion anticipated in November 2027.
New renderings show the narrow, ground-up infill building tucked against an existing parking deck at Peachtree and Wall streets, with ground-floor retail intended to activate the streetscape. The design calls for a fitness center, community meeting rooms and a computer center for residents. As reported by Urbanize Atlanta, the ownership entity is listed as Urban Momentum Inc., while the development partnership includes Lalani Ventures, The Integral Group, The Atlantic Companies and T. Dallas Smith & Company.
Funding and unit mix
According to an Invest Atlanta board packet, the 65 units are split among 30%, 60% and 80% AMI tiers and the development budget is roughly $32.7 million. The packet lists a $17.5 million construction loan, Atlanta Housing co-investment, tax credit equity and the $2 million Eastside TAD grant among sources. Boston Capital and Enterprise appear as lending and tax-credit partners on the fact sheet.
How 2 Peachtree fits
Five Peachtree Senior is described by project leaders as an "early start" meant to energize the block while a larger conversion of the nearby Two Peachtree tower moves through planning. The 44-story tower has been eyed for adaptive reuse and the development team has explored low-interest federal loans to shoulder part of the conversion cost, according to ConnectCRE. The bigger overhaul would add hundreds of apartments and commercial space but still needs a finalized financing plan.
Some elected officials and neighborhood advocates say the city needs more transparency about how the tower conversion will be paid for. As Atlanta Civic Circle reports, several council members have pressed Invest Atlanta for updates and the agency says the development team is still refining its financing strategy amid uncertainty around federal loan programs.
If permits and financing come together, Five Peachtree Senior should move through permitting and break ground later in 2026, while the tower conversion will likely take longer and depend on securing the larger debt and tax-credit stack. Downtown merchants and transit riders could see more year-round foot traffic if both phases reach construction, but the final timetable will hinge on whether lenders and public partners can line up the dollars.
