JV Plans $325M Condo-Retail-Hotel Complex

GAINESVILLE, GA-Taking advantage of a nationwide buyer demand for luxury condominium units, American CBI of Conyers, GA and New York-based Endeco International plan to break ground in late 2004 on a $32-million, 750,000-sf condo-retail-hotel complex in this suburban city where guests will be shuttled by helicopter to and from nearby Hartsfield-Jackson International Airport.

The two-building, 36-story and 34-story Canterbury at Lake Lanier venture in Hall County, 30 miles north of Downtown Atlanta, will have 150 condos of 1,350 sf to 4,000 sf of living area, according to plans filed with the Gainesville planning commission. The project unit retail price of the condos was not indicated in the plans.

The hotel will have 34 rooms and there will also be 14 additional rental rooms on the lowest level of the buildings for guests of the guests. A two-story restaurant, bar and lounge is planned at the top of one of the structures. A spa and helipad are also in the submitted plans.