Atlanta's iconic Bank of America Plaza plans new restaurant, possible observation deck

Bank of America Plaza is one of Atlanta's most recognizable skyscrapers. Now, it's opening its doors to the public and offering a new experience.

The building, located at the corner of Peachtree Street and North Avenue, was built between 1991 and 1992 and opened as NationsBank Plaza. It's seen changes over the years, and there are more on the way.

"This building is such an icon and landmark, and it holds such a special place in so many people's minds and hearts. It is an icon and a piece of our city, and it deserves that level of investment," said Chris Eachus with the commercial real estate firm CP Group.

Four years ago, Eachus and his team purchased Bank of America Plaza. Since then, the company said it has invested more than $70 million to modernize the Midtown art deco tower. For Eachus, the decision to bet on its future is about more than real estate.

"Real estate, not to oversimplify, but it's a lot like the game of Monopoly. When you land on Boardwalk, you have to buy it. There are opportunities where they don't come along often to buy those types of things," Eachus said.

Last year the building's lobby underwent a $20 million transformation. The upgrades include modernized elevators, more than 100,000 square feet of pre-built office space, and a new tenant lounge under construction on the 37th floor.

The latest phase of construction started in June, with CP Group investing more than $15 million in the building's west wing.

Eachus said this isn't just about updating an old building. It's about adapting to a new way people work.

"The office market has been sort of recreated in a post-COVID era. People are much choosier about where they're going to be, what they want in their space, the types of amenities they're seeking. At the very top of that list is food," said Eachus.

A new restaurant, marketplace and café are expected to open in early 2027. Eachus said this part of the transformation is about expanding the focus to more than just the people who work here.

"The beauty of the restaurant we're building downstairs is it'll serve a need that this area needs a lot more of, which is frankly walkable restaurant destinations. This will be open to the community," he said.

The CP Group said the project is creating an economic impact beyond the building itself. Episcope Hospitality estimates about 50 jobs will support the new restaurant, market, and café. More than 50 stories above, the firm said it's exploring something Atlanta does not have at this scale.

"As you look around the southeastern United States, there is no observation deck really to speak of when you think of ones like you'd see in New York or Chicago," said Eachus.

The view from the top stretches across metro Atlanta, from Vinings to Buckhead, Midtown to downtown. The observation deck is still in the planning stages.

"We're deep in that exploration and have worked very hard in the planning and pricing and exercise of that. And now I think we're at sort of an inflection point where we'll have to make a decision," Eachus said.

The building's transformation comes as Atlanta's office market continues to recover from the pandemic's disruption.

The rise of hybrid and remote work pushed office vacancies higher, forcing property owners to rethink what it takes to bring companies and their workers back.

"We never believed that people would work from home permanently all the time. We've seen a tremendous return to work all across our portfolio," said Eachus.

At Bank of America Plaza, Eachus said that return is showing up in the numbers.

"When we purchased it, it was in the 60s, and now we're in the 70s," he said.

For decades, people across Atlanta have known Bank of America Plaza by its silhouette.

"What we've delivered, and now what we're even adding to, will actually surpass what you see on the horizon," explained Eachus.

Its owners are betting that what people experience inside can match what they've always seen from the outside.