Built in 1897, the 11-story Flatiron building is Atlanta’s oldest building and is listed in The National Register of Historic Places.  In 2014, the outdated and underutilized building presented an enormous opportunity for redevelopment due to its location in the heart of Downtown Atlanta and its proximity to amenities.  DaVinci Development was contracted by Lucror Resources to re-position the Flatiron as a next-generation office building and innovation hub, complete with coworking and social spaces, conference rooms, lounge areas, bike storage, showers, and outdoor seating – all the while restoring and maintaining the historical integrity of the building’s architecture.

As Development Managers, DaVinci Development led the project team on the repositioning of the 11-story structure located within an economic opportunity zone.  Due to the historic nature of the building, renovation and preservation costs were higher than with typical renovation projects.  DaVinci Development worked hand in hand with Lucror Resources to finance the project, incorporating various public and private sector financial tools including a $11.2 million New Markets Tax Credit allocation, a $1.5 million Westside TAD investment from Invest Atlanta, Historic Tax Credits, and traditional financing.  DaVinci Development was instrumental in fostering an inventive, high-end office design while assuring the capital costs, schedules, and cash flows were maintained.

Affectionately known today as “Flatiron City”, the project was awarded the 2017 Project of the Year by the Urban Land Institute Atlanta as part of their Awards of Excellence program.