Marietta, GA-based Wood Partners LLC has contracted to buy the site for $16.2 million or a pricey $771,429 per acre ($17.71 per sf), brokers familiar with the project tell GlobeSt.com. Wood plans 30,000 sf of office, 20,000 sf of retail, 360 apartments, 41 townhouses and 17 single-family residences on the site. The first phase is tentatively scheduled for completion in summer 2004.

The Wood project is several blocks north of the 42-acre, 800,000-sf Little Five Points retail and residential campus proposed by Sembler Co. of Clearwater, FL. That estimated $50 million project is still waiting for final city approvals after battling residential groups who fear the venture will heighten traffic and noise concerns in one of Intown's oldest commercial, cultural and retail neighborhoods.