VININGS, GA-Atlanta-based Songy Partners Ltd. and Cobb County commissioners have avoided going to court to settle a one-year-old lawsuit filed by the developer on a land rezoning issue. The parties settled the suit by agreeing the planned residential condominium project would have 32 homes instead of the originally planned 45 units, county staffers confirm for GlobeSt.com.
The 3.1-acre development site at Overlook Parkway and Paces Ferry Road is next to the 159-room Wyndham Vinings Hotel at 2857 Paces Ferry Rd. in suburban Vinings, about nine miles north of Downtown Atlanta.
According to the agreement, Songy's project will be six stories in height rather than 12 stories and will be built over two levels of underground parking. Songy Partners, headed by CEO and co-founder David B. Songy, also agreed to give the county $32,000 to improve the railroad crossing at Paces Ferry Road.
Songy principals couldn't be reached by GlobeSt.com's publication deadline to learn the estimated development cost of the condo project. However, area construction sources tell GlobeSt.com the venture will probably have a hard construction cost of about $200,000 per unit or an estimated total $10 million. The condos will be retailed for $700,000 to $1.2 million.
Songy filed the lawsuit last year in Cobb Superior Court after the county rejected the developer's land rezoning request. The project is slated to break ground by June and be completed by year-end 2007.
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