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DULUTH, GA-Madison Walk, a locally based partnership headed by George Thorndyke, expects to unveil plans by year’s end for a mixed-use, 50-acre development in this Atlanta suburb with an estimated investment value of about $1 billion, area brokers familiar with the enterprise tell GlobeSt.com.

The specific development site hasn’t been announced but sources working with Thorndyke tell GlobeSt.com it will be near the 1.24-million-sf Gwinnett Place regional mall at Interstate 85 and Pleasantville Road and the 322,991-sf Gwinnett Prado mall. The project will be the first since Gwinnett County commissioners approved new high-rise guidelines for mixed-use and residential projects, as GlobeSt.com reported Dec. 14.

Madison Walk owns the former Macy’s building, now vacant, at Gwinnett Place. Thorndyke is a former candidate for Gwinnett County’s board of commissioners.

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