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ATLANTA-The 180,000-sf 1655 Peachtree St. office building that triggered controversy in 1994 when local developer and former Georgia Tech football star Taz Anderson perched a 25-foot metallic advertising peach atop the 12-story Downtown structure is being converted into 74 condominium homes that will include six penthouse units two stories high.

Nexgen Properties LLC of suburban Alpharetta expects the conversion to be completed by September, area brokers following the condo conversion market here tell GlobeSt.com. The condos will be priced from $130,000 to $450,000. Coldwell Banker the Condo Store is handling sales.

Nexgen officials couldn’t be reached by GlobeSt.com’s publication deadline to learn the development cost of the project. However, Downtown residential brokers familiar with recent conversions tell GlobeSt.com the 74 condos are probably going to come in at a hard construction cost of about $100,000 each. They estimate the hard cost of the total project at about $10 million.

Anderson installed the peach advertising platform atop the building as one of several enterprising attempts in and around Downtown in advance of the 1996 Summer Olympic Games in Atlanta. He also placed a red Olympic Torch advertising icon near the Varsity Restaurant. City officials at the time were not amused by Anderson’s creativity and drew up restrictive commercial outdoor advertising ordinances that remain in effect today. Anderson is not associated with the 1655 Peach St. conversion project.

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