News
NEW PLANS AT LINDBERGH
July 15, 2010
| Back in March, we alerted you to a deal brewing for the partially developed Skyline at Lindbergh condo in Buckhead. Well, the deal?s done. And in true Atlanta spirit, a Phoenix developer plans to resurrect the site as apartments. | |
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| This morning, we snapped Jordan Co.?s David Walmsley at the 3.4-acre site on Morosgo Drive near The Dump. He and partner Rob Jordan represented the seller, BBVA Compass Bank, in the $3M sale to Alliance Residential. David tells us Alliance plans up pick up where the previous developer left off but will build up to 250 luxury apartments instead of condos. Might be a smart move, given the poor shape of local condo market. | |
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| David tells us Alliance will develop a five-story building wrapped around a parking deck, which you can see here is partially built. He says incorporating the existing parking structure instead of razing is the environmentally sensitive move. He estimates that Alliance gets the benefit of $2M in infrastructure in the deal. |
