A new plan is in the works to redevelop a major building in downtown Atlanta. The Georgia-Pacific building, a pink granite structure that’s a part of the city’s skyline, could be redeveloped into a set of restaurants and apartments.

The company plans to convert the uppermost floors of the 51-story tower it owns into 400 apartment units while keeping 600K SF of the building as offices that would include Georgia-Pacific 's headquarters and the Atlanta office of its parent company, Koch Industries, it announced Thursday.

Georgia-Pacific announced on Wednesday plans to transform its 51-floor headquarters and surrounding city block into one of the largest mixed-use redevelopments in the country.

The Georgia-Pacific office tower, the pink-granite pillar in the Downtown skyline, could bring much-needed residents to a pocket of Peachtree Street dominated by offices and hotels. Why it matters: The paper-towels-and-everything-else company's plan to turn the upper floors of its 51-story building into more than 400 apartments is a high-profile rethink of Atlanta office spaces in a post-pandemic world.

Georgia-Pacific said it will transform its iconic 51-story downtown Atlanta headquarters into a mixed-use development. The project will include 400+ high-rise apartments, offices, and a 35,000-square-foot plaza.

In a release, the company said it would turn the "surrounding city block into a thriving center for innovation and community engagement."