Before breaking ground, however, the Raleigh, NC-based developer needs an OK from the Georgia Department of Community Affairs and a zoning change from Fulton County zoning and planning department on some of the property, according to Highwoods' preliminary applications at both agencies. Highwoods also needs a special-use permit to erect buildings that would exceed the county's height restriction.
Highwoods representatives couldn't be reached by GlobeSt.com's publication deadline to learn a tentative ground-breaking date. The developer's application to the state, however, puts the tentative completion date of the project at December 2007.
Area construction sources tell GlobeSt.com the minimum hard construction cost of the project's components would be about $25.2 million for residential based on $90,000 per unit; $16.38 million for the office portion based on $150 per sf; and $2.18 million on the retail part, based on about 80 per sf.
Because of its size, the Atlanta Regional Commission and the Georgia Regional Transportation Authority are also reviewing Highwoods' preliminary development plans, area brokers following the project's progress tell GlobeSt.com.
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