In 1969, Phipps Plaza opened as the first multi-level mall in Atlanta, aiming to become the South's leading shopping destination. The mall originally opened with two levels. Purchased by financier Ogden Phipps in 1966 for less than $600,000, the development was sold in 1992 to Simon Properties for $488 million. That year, in development as part of a $140 million renovation and expansion, Phipps added a third anchor, Birmingham, Alabama based Parisian, owned by the parent company of Saks Fifth Avenue, to its original anchors Saks Fifth Avenue and Lord & Taylor. This was their second Atlanta area location (their first was at Town Center at Cobb which also opened in 1992) and their flagship. This was followed by the openings of other area stores at Gwinnett Place Mall in 1993 and Northlake Mall in 1994, respectively. The expansion would also add a 14 screen AMC theatre, a new food court, new elevators, and the addition of one new level. Phipps Plaza remains Atlanta's only Saks Fifth Avenue venue. Lord & Taylor was repositioned and shuttered entirely in 2004. The store served as one of the original anchors for 35 years. The space was eventually completely renovated to make way for Atlanta's third Nordstrom, which opened in March 2005. On August 2, 2006, it was announced that Belk was acquiring the Parisian chain of department stores, with the store being converted to the Belk name in the fall of 2007. In 2010 the food court was renovated into a Legoland Discovery Center.
On November 13, 2017, Belk announced that it would close its location at Phipps Plaza during the summer of 2018. On November 14, Simon Property Group announced that it would replace Belk with a 150-room Nobu Hotel and restaurant, 300,000 square foot Class A office tower, 90,000 square foot Life Time Athletic facility and a 30,000 square foot food hall. The hotel and restaurant are expected to open in late 2019 with plans for the other portions of the project to debut in phases in 2020.[1]
The mall is known for its interior décor, which consists of mahogany walls, marble floors, glass elevators, chandeliers, and a massive, carpeted staircase.
