Madison plans 31,000 sf of retail, an undetermined amount of office and restaurant space, 18 townhomes and 12 one-story flats in a three-story building. The company holds a purchase option on a second 1.7-acre tract adjacent to the park which is located at Lawrenceville Suwanee Road and Buford Highway.
The deal with Williams' company marks the second partnership arrangement the city has made with a private developer, city staffers confirm for GlobeSt.com. Suwanee is also selling four acres for about $1.4 million, or $10.42 per sf, to Main Street Corners LLC which plans to break ground by the fall on a 42,000-sf building at Buford Highway and Town Center Avenue.
Using low-interest bonds, the city acquired 13 acres adjacent to the Town Center Park in November 2002 that are being sold to private developers for mixed-use projects that complement the Town Center master plan, city staffers tell GlobeSt.com.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
