Third & Urban Unveils $605M Northbend Mixed-Use Overhaul of Corporate Square in Atlanta

Key Points:

• Third & Urban is transforming Corporate Square into the $605M Northbend mixed-use district
•  Phase 1 includes 390 multifamily units, 119 for sale townhomes, retail, and a public plaza
•  Peachtree Group provided a $37.5M loan to fund acquisition and early infrastructure work

Corporate Square Gets a $605M Reset

Third & Urban is moving forward with Northbend, a $605 million repositioning of the aging Corporate Square office park just northeast of Atlanta. The project will convert the dated office campus into a mixed-use district featuring retail, office, rental housing, for-sale homes, and hospitality. Groundbreaking is expected in mid 2026.

Phase 1 Breakdown

The first phase is designed to support employees working at nearby Emory University Hospital and Children’s Healthcare facilities.
Phase 1 will include:

• 390 multifamily units
• 23 rental townhomes
• 119 for sale townhomes
• 140 corporate housing units
• 10,000 square feet of retail
• 1 acre activated public plaza

The plan blends rental and ownership products, positioning Northbend as a live-work-play node in a healthcare-driven employment corridor.

Future Density and Hotel Component

Third & Urban has secured entitlements for:

• 100,000 square feet of future medical office space
• A potential 150-room boutique hotel

The medical office component aligns with long-term growth tied to Atlanta’s healthcare and research ecosystem.

Capital Stack

Peachtree Group provided a $37.5 million loan to fund acquisition costs, infrastructure, and development pads. Early capital deployment toward roads, green space, and public realm improvements signals a phased master plan strategy rather than a single vertical push.

Why It Matters

Office park redevelopments continue accelerating nationwide as landlords reposition underutilized suburban campuses into mixed-use environments. Northbend reflects the broader trend of converting 1980s-era office inventory into housing-rich, amenitized districts aligned with workforce demand. For investors, healthcare adjacent real estate remains one of the more durable employment drivers in Sun Belt markets like Atlanta.

Final Thoughts

Third & Urban’s $605M bet on Northbend highlights continued confidence in Atlanta’s mixed-use growth story. With multifamily, for-sale townhomes, medical office potential, and hotel plans in the pipeline, the project aims to turn a legacy office park into a long term value creation engine.