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.
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