Two Area Mixed-Use Projects on Tap for 2003

ATLANTA-Two mixed-use ventures are expected to break ground in 2003 as metro Atlanta’s commercial development markets look for a gradual upturn from a lackluster 2002. Otter Construction & Realty Co. anticipates a tentative mid-year start on a 94-unit, condo, townhome and single-family project on the Soque River in Clarkesville, GA, about 60 miles northeast of Downtown Atlanta.

Meanwhile, local developer Steve Nygren plans to start his 14-townhome project next year near Palmetto, GA. The undertaking is planned for 150,000 sf of retail and 75,000 sf of office. The 225-acre site is off Atlanta Newnan Road near Hutcheson Ferry Road.

The Otter development will have 24 condos, 20 townhomes and 50 lots reserved for single-family homes. The products will be marketed primarily to the active retired adult sector, according to a published report. An adjacent 279,000-sf property will be developed for retail and recreational use. Otter Construction officials and Nygren couldn’t be reached at GlobeSt.com’s publication deadline.

In separate news, developer Rick Skelton has revived the fortunes of the 72-year-old, 16-story William-Oliver Building on Peachtree Street. Foundering as an apartment complex, the property was converted by Skelton in November to a condominium. It now boasts half of the 114 units in sales contracts. He is asking up to $200,000 for two-bedroom units and $65,900 for studio space.