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ATLANTA-Locally based Realty Development Corp. plans a $29 million, 240,000-sf mixed-use, two-building project on the 3.46-acre block at the corner of Freedom Parkway and Highland Drive, an area on the outskirts of midtown Atlanta that has been under redevelopment for the past five years.

GB Highlands, a Realty Development subsidiary, bought the land for $4 million from Georgia Baptist Health Care System. The three tracts are zoned for multifamily, condo and retail.

Plans call for a 200-unit apartment complex, a 52-unit condominium, and a 10,880-sf CVS drug store with a drive-through.

The drug store is a build-to-suit leased property. John Speros, managing director of Atlanta-based Bullock Mannelly Partners, brokered the lease. He would not disclose terms. Mark Mechlowitz represented GB. Speros brokered the land for Speros Wood Real Estate, prior to its merger with Bullock.

The price range for the condos is $140,000 to $200,000, according to published reports.

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