The team, which has spent the last 15 months creating thestrategic reuse plan, consists of locally based Cousins PropertiesInc., Newport Beach, CA-based LNR Property Corp.'s CommercialProperty Group and Oklahoma City-based the Benham Cos. LNR PropertyCorp. Commercial Property Group president-Mid-Atlantic region DavidWelch tells that he anticipates the entitlement processto take about 18 months to complete.


The military base is being redeveloped after the defensedepartment recommended its closing in 2005. Under therecommendation, the US Army must transfer 1,190 acres of the baseto developers by Sept. 15, 2011, but certain parts of the base maybe turned over earlier.


Under redevelopment plans, the site is expected to include 717single- and multifamily units, 435,000 sf of retail space, morethan one million sf of office space, more than 8.2 million sf oflight manufacturing and warehouse space and more than 200 acres ofgreen space. The team will redevelop approximately 1,200 acres andthe US Army will keep the remaining 200-plus acres. Theredevelopment is expected to take 10 to 15 years to complete.


Due to the property's close proximity to Hartsfield-JacksonInternational Airport, developers anticipate building anindustrial/business park, according to the strategic reuse plan forthe site. The plan also states that the majority of for-saleresidential units will be moderately-priced single-family detachedhomes. Retail opportunities will be limited to neighborhood-scalecenters catering to the property's residents and those in theimmediate vicinity. The office space will likely be limited to towncenter, internally-supported service office uses, the planstates.

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