The Carter Real Estate Fund has contracted to buy the land from three separate owners in a deal expected to close shortly. A ground-breaking date hinges on when the deal closes, company officials say. The townhomes will have 5,000 sf to 8,000 sf of living area.
"This is a product the Atlanta market hasn't seen and we feel that there is enough demand for high-end townhomes to make this project a success," says Carter president and CEO Bob Peterson. "It all boils down to us being opportunistic and taking advantage of a situation that is right on all fronts."
The development site is at 2440 Peachtree Rd. where the project will have underground resident parking and ample green space, Peterson says. "While at the present time there has been no decision made on a construction start date or completion date, Carter is evaluating the site to determine the best possible scenario for the project and the surrounding neighborhood," Peterson adds.
The company has applied to the city for a rezoning on the site.
© 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.
