ATLANTA—Parkside Partners is redeveloping 1280 West Peachtree in Midtown Atlanta as "16th Station." The class A, boutique office property that will feature an industrial loft-style design and rooftop terrace. Parkside acquired control of the property in September.

"With the continued strong demand for office space and ongoing increase in rental rates in Midtown, we think this is a very good time for 16th Station," Kyle Jenks, founding principal of Parkside, tells GlobeSt.com. "The project's loft-style design, location in the heart of Midtown and proximity to a MARTA rail station make 16^th Station particularly attractive to employers seeking to attract and retain millennial employees. Tenants will also benefit from the property's location in the Midtown Opportunity Zone, which offers significant tax incentives to tenants who create new jobs."

Located at the southwest corner of West Peachtree Street and 16th Street, the project is part of a $1-billion development boom that is bringing a slew of new projects to streets next to the traditional Peachtree Street CBD. MSTSD is the project architect. Renovations will begin as soon as a lead tenant is secured, with completion targeted for early 2017.

"Securing a lead tenant for 25,000 square feet of space would bring approximately 100 employees to this section of West Peachtree Street," says Eli Green, a partner at Parkside. "We can both accommodate that from a parking and transit perspective as well as offer meaningful tax savings through the Opportunity Zone if those are net new jobs."

The $12-million renovation of the 40,000-square-foot property will produce an exterior façade of exposed brick/concrete and large floor-to-ceiling warehouse windows. The interior's industrial loft-style design will include exposed concrete ceiling beams and sealed and polished concrete floors. The lobby design of 16th Station will incorporate built-in seating, a brick feature wall and metal laminate walls in the elevator lobby. Tenants will have access to a rooftop terrace featuring a lounge, fire pit, and both covered and outdoor patio space.

"16th Station's design and work environment will appeal particularly to companies with a growing millennial workforce," Green says. "We're targeting financial and technology firms, but we have also experienced strong interest from other businesses as well."

Parkside has contributed to the ongoing revitalization of intown Atlanta with developments that include nine properties along the Atlanta Beltline and five projects within walking distance of MARTA stations. Parkside's office projects include 2061 Peachtree, a joint venture with Georgia Hand Shoulder & Elbow featuring two class A medical office buildings totaling 110,000 square feet. Phase I of that project is 100% leased. Parkside also recently announced Trackside, a joint venture with Pattillo Industrial Real Estate that will bring the city of Chamblee its first class A office development.