But not today. Co-developers Lane Investment and Development Corp. and Buckhead Land Trust have told the city they have no immediate plans to break ground on the venture because the market is not yet ready for the project. The proposed development is at Buckhead Plaza, near West Paces Ferry Road and Peachtree Street.
Other developers also have six other high-rise condo-apartment ventures totaling 4,000 units from Lenox Street to West Paces Ferry Road , on the drawing boards, awaiting an economic recovery.
The economy has also forced Callaway Gardens, a major botanical center, to shelve a planned $30 million, lodge and private golf club project in Atlanta. The venture would have had 24 luxury club condominiums; a 100-room Southern Pine Lodge; and a redesign of the Garden View and Sky View golf courses.
Meanwhile, in South Forsyth County at the 1,400-acre Windermere development, the Orchards Group has broken ground on the Homes at Muirfield, a 147-unit, single-story senior housing condominium community. The units, with 1,300 sf to 2,700 sf of living area, will sell from $190,000 to $280,000.
On the retail side, however, Value City Department Stores Inc., the parent of Boston-based Filene's, confirms it plans to opened its first Filene's Basement store in Atlanta in May. The 50,000-sf outlet will occupy the two-level space formerly housing Dekor in Lenox Marketplace. Ruth Coan of the Shopping Center Group helped to broker the deal. Another national retailer, Swedish furniture maker IKEA is reported to be negotiating a lease with Midtown-based Atlantic Station developers.
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