ATLANTA-The city's ongoing development and redevelopment engines continue to run at full speed as Lane Investment and Development LLC and Harold A. Dawson Co. ask the city to approve the construction of a mini city in the Lindbergh submarket. The venture would include 600 high-rise condominium homes, 275 low-rise condos, 400 apartments and 114 townhomes at an estimated development cost of $100 million.

The project wouldn't break ground until 2007 and would take five years to complete, Lane-Dawson officials estimate. The townhome component is expected to be the first phase of the project, brokers and marketers familiar with the venture tell GlobeSt.com. About 20% of the total housing is being reserved for low-income occupants.

In June of this year, Lane Co. purchased a 27-acre parcel housing the 304-unit Lindmont Apartments at the southeast corner of Piedmont Road and Lindbergh Drive from Tom Stokes for $29.2 million or about $1.1 million per acre ($25.30 per sf), according to Atlanta-based Databank Inc. The Lane-Dawson project will be developed on that site.

Lane Investment and Development Corp. has developed 13,000 housing units valued at more than $1 billion over the last 20 years, according to the company. From 2000 to 2003 alone, the company developed 3,720 shelter units valued at $400 million. Harold A. Dawson Co. is a family-run, Atlanta-based company founded in 1969. The company is developing the $500-million Lindbergh City Center, a transit-oriented, mixed-use project surrounding the Lindbergh Marta station. In March of this year, Dawson broke ground on the 362-unit Uptown Square at Lindbergh City Center.