Area brokers and construction industry estimators tell GlobeSt.com the entire development cost of Inman Park Village will probably come in at $100 million. Wood Partners, a luxury apartment builder, is the lead developer at the 21-acre, former Mead Paper Co. site. Wood selected the development team and will itself be building 253 apartment units, ranging in size from studio units to three-bedroom units.
Homebuilders Geoff Brunning and Ray Stang, redevelopment specialists for the past 25 years, tell GlobeSt.com they plan to break ground in early March on 41 three-story townhomes and 17 single-family houses. The townhomes will be priced from $300,000 to $500,000. Single-family homes with basements will start at $700,000. The Columns Group will be working with Brunning & Stang Co.
Ultima Holdings, also a locally based developer for 25 years, tells GlobeSt.com it plans to start its $17-million portion of the project no later than April 15. Ultima will be developing 68 loft-style residential condominium units, 20,000 sf of retail and a 4,500-sf free-standing restaurant.
Parkside Partners Inc. bought the historic Mead Products office building, called Blue Horse, from Wood and will renovate and reposition the property as a for-sale 29,000-sf office condominium complex with individual space ranging from 1,500 sf to 15,000 sf. Per-sf-prices haven't been set yet. Hailey Realty Co. is working with Parkside on the office component.
Inman Park Village will be located near the communities of Virginia Highlands, Little Five Points and Freedom Park. Inman Park has a MARTA station that goes to Downtown, Midtown, Buckhead and the Hartsfield-Jackson International Airport.
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