Colony SquareNorth American Properties (NAP) and Lionstone Investments have closed on a nearly $170 million deal to buy and redevelop Midtown’s Colony Square, according to a media release.

Part of that redevelopment will be removing the roof from the retail portion to make the space into a more “walkable, open-air experience where Atlantans will gather and spend time.”

Colony Square, which sits at the corner of Peachtree and 14th streets, comprises two office towers totaling 719,402 square feet, 162,953 square feet of retail space, as well as residential condos and a 467-room hotel. NAP and Lionstone acquired the office towers and retail space that connects them.

NAP said that before any concrete redevelopment plans are put in place, the team is seeking feedback from both the community and from experts in urban planning. NAP is asking people to share ideas for Colony Square with the hashtag #ReimagineCS on social media.

While the team develops long-term transformational plans, expect to see the NAP “experiential” approach immediately. Guests, residents and office tenants will be surprised and delighted by touches inspired by Georgia’s growing film industry, including the showing of holiday movies on an outdoor screen. NAP is also partnering with Midtown Alliance to “adopt” the nearby Arts District Plaza, where they will stage events for Colony Square tenants and the Midtown community.

Follow Colony Square at Facebook (facebook.com/ColonySquareATL), Twitter (@ColonySquareATL) and Instagram (@colonysquareatl) for updates.

Collin Kelley

Collin Kelley has been the editor of Atlanta Intown for two decades and has been a journalist and freelance writer for 35 years. He’s also an award-winning poet and novelist.