Buckhead Atlanta Developer Seeks Several Permits
The permits would allow the developer to begin vertical construction.
Buckhead Atlanta developer OliverMcMillan is ramping up its efforts on the $1 billion project and is seeking several commercial and multifamily development permits for 1 million square feet of the new development, according to the Atlanta Business Chronicle.
The cost of construction for the first phase is about $151 million and would include two new apartment towers.
After recently restarting work on the project in August after three years of inactivity, the developer has mostly cleared debris and poured concrete. However, the permits would allow more vertical construction to begin.
OliverMcMillan has said the initial construction is being financed with its own equity, but ABC reports that Suntrust Banks has been in discussion with the developer about a construction loan.