Abernathy Development Partners is a joint venture of locallybased Ackerman & Co. and locally based Russell New UrbanDevelopment. The project consists of 550,000 sf of office space intwo buildings, 20,000 sf of ground-floor retail and restaurantspace, a 400-room hotel and the Serrano, a 150-unit condominiumproject.

Prices for the Serrano, which will include 6,500 sf of retailspace, will start in the low $300,000s. Evolv will handle themarketing and sales of the units. Ackerman & Co. president KrisMiller tells GlobeSt.com that sales of the units have not started,although a reservation list has been established. "We don'tanticipate having a problem selling the units," Miller says. "TheCentral Perimeter is in the center of the Metropolitan Atlantaarea. It's the easiest place in the metropolitan area to getto."

The first phase of the project will include development of theSerrano, which will take about 12 months to complete. The secondphase, to begin in 2008 after the first phase is completed, willinclude development of the hotel, office and retail space.Construction of the first office tower will likely start first,followed by construction of the hotel and second office tower,Miller says. "It's possible to have two phases going at once, butit's tight," he says.