The land price equates to $2.59 million per acre or $59.42 per sf. Integral plans to close the deal in November with the seller, Copa Inc., a nonprofit consortium directing redevelopment projects near Centennial Olympic Park. A tentative ground-breaking is scheduled for first quarter 2002. The units are being built at a hard construction cost of $123,377 per unit.

The complex will offer a mix of studio apartments and two-bedroom units at so-far undetermined rents. A parking garage of undetermined size will link the two towers. Ground-floor retail will front Centennial Olympic Park Drive and Williams Street.

Hanover had planned to build a 20-story, 265-unit apartment building but backed out after it couldn't strike a deal with the city on a development incentive package. Hanover was looking for about $3.1 million to pay for a parking garage, lighting and landscaping.