
                                                                 EXHIBIT 21



            COUSINS PROPERTIES INCORPORATED AND CONSOLIDATED ENTITIES
                         SUBSIDIARIES OF THE REGISTRANT
                                DECEMBER 31, 1995


     At December 31, 1995, the Registrant had no 100% owned subsidiaries.

     At December 31, 1995,  the financial  statements of the following  entities
were  consolidated  with those of the Registrant in the  Consolidated  Financial
Statements incorporated herein:

        Cousins Real Estate  Corporation  and  subsidiaries  (100% of non-voting
          common stock and 100% of preferred stock owned by Registrant);
          subsidiaries include Cousins MarketCenters, Inc. (100% owned by 
          Cousins Real Estate Corporation)
        North Greene Associates Limited Partnership (85% owned by Registrant)
        Rocky Creek Properties, Inc. & MT&E - Macon-Harris (75% owned by 
          Registrant)
        North Point Market Associates, L.P. (82.3% owned by Registrant)
        Perimeter Expo Associates, L.P. (90% owned by Registrant and 10% owned 
          by Cousins MarketCenters, Inc.)

     At December 31, 1995, the Registrant and its consolidated  entities had the
following significant unconsolidated subsidiaries which were not 100% owned:

        CC-JM II Associates (50% owned by Registrant)
        C-H Associates, Ltd. (49% owned by Cousins Real Estate Corporation)
        C-H Leasing Associates (50% owned by Cousins Real Estate Corporation)
        C-H Management Associates (50% owned by Cousins Real Estate Corporation)
        CSC Associates, L.P. (50% owned by Registrant)
        Green Valley Associates II (50% owned by Registrant)
        Haywood Mall Associates (50% owned by Registrant)
        Hickory Hollow Associates (50% owned by Cousins Real Estate Corporation)
        Norfolk Hotel Associates (50% owned by Registrant)
        MC Dusseldorf Holding B.V. (10% voting interest owned by Registrant and 
          40% voting interest owned by Cousins Real Estate Corporation)
        Spring/Haynes Associates (50% owned by Registrant)
        Wildwood Associates (50% owned by Registrant)
        Ten Peachtree Place Associates (50% owned by Registrant)
        Temco Associates (50% owned by Cousins Real Estate Corporation)
        West Georgia Commons Associates (50% owned by Cousins Real Estate 
          Corporation)


