Original Atlanta department store’s rebirth as apartments has arrived

The outlook on renting at South Downtown’s 85 Peachtree St. as wave of openings begins

Josh Green

May 7, 2026

Leasing efforts have recently kicked off at historic 85 Peachtree St. in South Downtown, a building considered to be Atlanta's original department store (and one of the first in the Southeast), where upper floors were mostly empty for the past half-century as the neighborhood hollowed out.

Located just south of Underground Atlanta, 85 Peachtree began life in 1899 as the Bass Dry Goods Building, where the late Victorian architecture includes arched windows and distinctive detailing.

Upper floors at the boutique building have been remade into 26 loft apartments, while a 3,200-square-foot space at street level is being converted to "one massive retail restaurant opportunity." The South Downtown team acquired the historic building for $3.3 million in foreclosure and has put roughly $25 million into its residential revival.