The location to the right, formerly the home of the Art Institute of Atlanta, will become a 52 story condo-hotel tower in the next year.

GlobeStreet reports that developers John Williams and Clark Butler, doing business as City Center Properties, may be low-balling it with an estimate of $75 million to build The Mansion on Peachtree, which would have 124 hotel rooms, 42 condos, three "garden villas," and two restaurants. Try $100 million.

The back end of the lot, which is the large patch of dark green in the Google Maps picture to the right, would mostly remain greenspace under their plan, a private park, with the 260 car deck tucked in to the area defined by the old building and its parking lot. The lot extends all the way back to the Buckhead Connector.

As the Peachtree Road Race goes, the building would be on the right just as you make the first left on the run, right past Dante's and before Georgia 400. It would sit catty-corner with the Atlanta Financial Center. (Here's what it looks like right now, from across Peachtree.)

The developers claim they're looking for a "Park Avenue" feel in the area, but given how close all the buildings there sit to the roadway, and the fact that Peachtree does not have an esplanade, you're really looking at something more like the canyons of Broadway.