ATLANTA-The trendy Virginia-Highland shopping center clustered around North Highland and Virginia avenues is in line for its first mini mixed-use project. North Highland Property Development Co., an affiliate of locally based Colliers Spectrum Cauble, has filed conceptual plans with the city for the Mix @841.

The project would include 40,000 sf of high-end retail and restaurant space, a 275-space parking deck and about 15 two-story townhomes. The developer expects to break ground by summer and have the project completed by fall 2007. Jon Barry, a partner in North Highland Property Development Co., couldn’t be reached by GlobeSt.com’s publication deadline to learn the estimated development cost.

However, Atlanta area brokers familiar with comparable projects tell GlobeSt.com the hard construction cost of the Mix will probably come in at least $10 million. The brokers base their estimated on an estimated construction cost of $85 per sf for the retail component; $90,000 per unit for the townhomes; and about $5 million for the parking deck.

The one-acre development site is at 841 N. Highland Ave. The site is a surface parking lot next to the former Harvest restaurant.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.