MARIETTA, GA-The largest redevelopment project in this city’s history has cleared the final governmental hurdle. After months of deliberations, the city council has voted 7 to 0 to sell a prime Downtown 11-acre parcel to Atlanta-based Winter Properties for a mixed-use venture comprising 315 townhomes and condominiums, 46,000 sf of office and 31,600 sf of retail. The project, to rise one block from the city’s historic Marietta Square, has a build-out value of $80 million, city staffers tell GlobeSt.com.

Winter Properties anticipates the land purchase from the city will close in March. Sources in a position to know tell GlobeSt.com the city expects to clear about $5.4 million on the deal. The city had the land appraised at $7.2 million. A purchase price is being negotiated. The land includes an eight-acre parcel and a three-acre parcel where the former Clay Homes public housing project was located.

Marietta selected Winter Properties from a list of seven qualified developers, as GlobeSt. Com previously reported. The other bidders were Trammell Crow Co., Pacific Group, Jolly Development, Urban Realty Partners, Hedgewood Development and Goldman Co.