The 35-year-old Myrick Co. of Alpharetta is proposing a $31-million venture that would have 50,000 sf of retail and 65 homes priced from $340,000 to $500,0000. Hedgewood Development LLC of Cumming offers a $55-million undertaking of 198 homes selling for an average $275,000. The city council will make the final selection in August.
Hedgewood could have the edge in the selection process, brokers who attend the city's regular public hearings tell GlobeSt.com. Marietta picked Hedgewood recently to develop the estimated $22-million Manget Street project near Roswell and Fairground streets. The 89 homes, sized from 1,500 sf to 2,500 sf, are projected to sell for $200,000 to $320,000.
Clay Homes, another 11.3-acre former public housing site one block from Marietta Square, has generated nine mixed-use proposals from area developers. The city's Downtown Square has attracted commerce and vibrant neighborhoods since before the Civil War, according to local historians. "Developers are eager to restore the Square's prominence Downtown," a city staffer tells GlobeSt.com.
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