Buckhead’s Phipps Plaza, long known for its high-end shopping options in Atlanta’s toniest neighborhood, is slated for a fairly incredible transformation.

Simon Properties, owner of the 48-year-old mall, announced plans Tuesday to construct a massive mixed-use development in and around the existing facility.

According to a press release, plans call for a 12-story office tower, a multi-level Life Time Athletic “living and entertainment destination,” and a posh Nobu Hotel and restaurant.

Renderings indicate the multi-building development would rise at the northern end of the mall, atop a three-story parking plinth.

Most existing tenants will remain, with one big exception being Belk. The flagship store will close next year, with the space it occupies slated to be razed and folded into the new development.

The move comes as Phipps Plaza is in the midst of a reinvention of sorts.

The mall received a facade modernization last year, while an AC Hotel and more than 300 residences have recently risen in its eastern parking lots.

Construction is slated to commence in 2018, with a phased opening beginning in spring 2020.