ATLANTA — Tom Cousins, an Atlanta-based real estate developer, professional sports supporter and philanthropist, has died at the age of 93 while hospitalized in Florida, according to multiple media outlets.
After starting his real estate career selling $11,000 houses with his father in the late 1950s at a firm called Knox Homes, Cousins founded Cousins Properties Inc. in 1958 at 26 years old. The small homebuilding company experienced rapid growth, launching an initial public offering (IPO) in 1962 and solidifying its position as the state’s largest homebuilder by 1964, while soon expanding to office development in 1965.
The company transitioned to a real estate investment trust (REIT) in 1986. Today, the company stands as a preeminent office REIT in the Sun Belt, with office buildings in Atlanta, Austin, Charlotte, Dallas, Nashville and Phoenix.
Cousins’ most notable achievements include the development of Bank of America Plaza in Midtown Atlanta; 191 Peachtree, the CNN Center and Omni Coliseum in downtown Atlanta; and the Pinnacle Building in Buckhead. Cousins, along with former retail head Joel Murphy, also pioneered The Avenue open-air retail concept, opening several retail and dining destinations in the suburbs of Atlanta in the late 1990s and early 2000s.
Cousins also brought the NBA’s Hawks franchise to the city for the first time, donated the land that became the Georgia World Congress Center and influenced the development of Atlanta’s skyline, according to the Atlanta Business Chronicle.
“We extend our heartfelt condolences to the family and friends of Tom Cousins, a visionary builder of communities, unmatched philanthropist, and a former Hawks owner who had an enduring impact on the city’s sports landscape and the geographic footprint that now makes up our thriving Downtown Atlanta region,” wrote the Atlanta Hawks in a prepared statement. “Developed by Cousins, the original home of the Hawks — the Omni Coliseum — shaped fans, memories and downtown for a quarter of a century. We are grateful for his legacy and the countless lives he impacted.”
Additionally, after teaming up with the Atlanta Housing Authority and the U.S. government, Cousins created the East Lake Foundation to develop mixed-income housing, an elementary school and a YMCA in the city’s East Lake area in the early 2000s.
Cousins additionally contributed millions of dollars to philanthropic causes, such as establishing a permanent endowment for the University of Georgia baseball coaching position (Cousins’ alma mater), as well as a $2.5 million gift — the largest single gift at the time — to launch the Center for Science and Innovation at Oglethorpe University. He was also instrumental in safeguarding civil rights history, collaborating with other donors to raise $32 million to keep Dr. Martin Luther King Jr.’s personal papers in Atlanta, as well as participating in various arts and cultural organizations including the High Museum of Art and Oakland Cemetery.
“Tom saw Atlanta in a way many couldn’t, and he truly believed in the potential of what this great city could be and brought that vision to life,” said Arthur Blank, co-founder of The Home Depot and owner of the Atlanta Falcons and Atlanta United sports franchises. “Through his original ownership of the Atlanta Hawks, the revitalization of the East Lake neighborhood and many ventures in between, he believed in community impact wholeheartedly and prioritized that in everything he did. Tom was and will always be an inspiration to me.”
Cousins was CEO of Cousins Properties until 2002, and chairman until December 2006.
“My prayers are with the family and friends of Tom Cousins, whose vision helped shape our skyline, his generosity helped rebuild communities and values helped define modern Atlanta,” said Atlanta Mayor Andre Dickens in a prepared statement. “A man of deep faith who loved his family, his legacy will live on as a guidepost for what leadership can and should be in Atlanta.”