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Developers Debate New Mixed-Use Buckhead Venture

ATLANTA-Although Atlanta city council has given the green light for an 18-story hotel, office, retail and condo-apartment site in the affluent suburb, Lane Investment and Development Corp. and Buckhead Land Trust say the market is not yet ready for the project.

By Alex Finkelstein | Updated on February 06, 2003

ATLANTA-In stronger economic times, news that the Atlanta city council has approved an 18-story hotel, office, retail and condo-apartment site possibly valued at $100 million in affluent Buckhead, GA would have been received favorably by Atlanta’s development community.

But not today. Co-developers Lane Investment and Development Corp. and Buckhead Land Trust have told the city they have no immediate plans to break ground on the venture because the market is not yet ready for the project. The proposed development is at Buckhead Plaza, near West Paces Ferry Road and Peachtree Street.

Other developers also have six other high-rise condo-apartment ventures totaling 4,000 units from Lenox Street to West Paces Ferry Road , on the drawing boards, awaiting an economic recovery.

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