(To read more on the multifamily market, click here.)

ATLANTA-Locally based developer Pollack Partners and landowner MK Management Co. are developing a $98-million mixed-use project in the city’s Westside neighborhood.

Conceptual plans call for 55,000 sf of live-work space and another 650 residential units that will be for rent and sale. The mix of rentals and “for sale” units will be based on market conditions as Pollack continues to pursue the project, which is planned for the intersection of Collier Road and Interstate 75. The live-work space could become stores, restaurants and offices. The site holds an industrial park that will be demolished.

“The conceptual design calls for developing retail space along the frontage of the property with a main street that runs down the spine of the site,” says Pollack Partners chairman and CEO Marc Pollack. “We’re going to create a community where people can live in a vibrant, urban setting, where it’s a convenient and pleasant walk to the new restaurants, stores and office we’ll build here.”

On Jan. 9, the developers filed a rezoning application for the 13-acre parcel. They plan to meet with neighbors in the coming months to discuss the plans and receive input. Construction may begin in early 2008.

Among the reasons that Pollack is pursuing the project is the Westside area is undergoing redevelopment. A new Wal-Mart Supercenter was constructed in close proximity to the site among other redevelopment efforts. “The site is right on Interstate 75 so we’ll have enormous visibility,” Pollack tells GlobeSt.com.

The project is one of the first for Pollack Partners, which was founded in late 2006. The firm will focus on the development, acquisition, finance and investment of multifamily and mixed-use projects in the Southeast with a particular focus on Georgia and Florida. The company currently has five employees, but the plan is to grow to eight to 10 employees in the coming, Pollack says.

Pollack has more than 30 years’ experience in the multifamily acquisition, development, investment and management business. Prior to launching the firm, he spent 13 years as president of Atlanta-based Lane Investment and Development where his team completed 86 projects, totaling $2.1 billion in the Southeast. After leaving Lane, he took a six-month sabbatical before starting the namesake company. “I decided to get back to doing what I love,” Pollack says. “The initial focus will be urban infill projects, but there will be other opportunities in the future.”

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