For nearly a century, a grand Italianate villa by noted Atlanta architect Philip Trammell Shutze has stood majestically at the end of a long driveway, atop a grand sloping lawn, on Buckhead’s storied West Paces Ferry Road.

That may soon change.

Plans filed with the City of Atlanta indicate the ornate “Pink Palace”—initially built as a residence for the Rhodes family—could be partially demolished, and its large lot subdivided for development.

The drawing submitted to the city shows three potential lots oriented toward Tuxedo Road. The Pink Palace would stand on the center lot, cut off from West Paces Ferry, and theoretically left facing the side of a new home or multifamily concept.

Division of the land and creation of a third lot from the backyard would require the demolition of the rear wing of the home, which creates a courtyard with a pool.

If approved, the plans would mark a tremendous shift for the home, which was sold earlier this year after less than a day on the market.

Before that, the home had undergone substantial (and sometimes unsympathetic) renovations, after failing to sell for $7 million in 2013.

It’s unclear if the city will approve the land’s subdivision and the home’s partial demolition. With no historic protections, the home’s fate seems uncertain at best.

We’ve reached out to the permit applicant and will update this story if we receive a response.