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MARIETTA, GA-The estimated $15-million redevelopment of a blighted 7.5-acre block in this Atlanta suburb hinges on the city council’s decision May 11 to go forward with a developer selected by the Marietta Redevelopment Corp.

Hedgewood Homes of Cumming proposes to build 89 for-sale apartment units that would sell for $200,000 to $320,000, area brokers following the project tell GlobeSt.com. The redevelopment site is southeast of the Marietta Square bounded by Manget, Haley, Frasier and South Streets.

The apartments would have 1,500 sf to 2,500 sf of living area. The project would be funded with tax allocation district money, consultants who have worked on comparable projects in the metro area tell GlobeSt.com.

Marietta developer Marty Littleton, who owns the 7.5 acres, assembled the properties around Marietta Square and has agreed to sell the land to the city for about $4.9 million or $662,162 per acre ($15.20 per sf), brokers in a position to know tell GlobeSt.com.

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