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Selig and Daniel Break Ground on $103M Plaza Midtown

ATLANTA-Two 20-story twin towers will have 452 condominium units, 70,000 sf of street-level retail and six levels of parking on a premium 3.3-acre site, as GlobeSt.com previously reported.

By Alex Finkelstein | Updated on September 29, 2004

ATLANTA-Earvin Johnson, a former Los Angeles Lakers basketball star, is returning to town–not on the hardwood court but as a financial backer of one of the largest condo-retail projects started in the metro area this year.

Johnson is managing director of Beverly Hills, CA-based Canyon-Johnson Urban Fund, a special purpose, closed-end real estate fund that has partnered on other urban infill neighborhood development projects with prominent national players such as Loews Cineplex Entertainment, Starbucks Coffee Co., TGI Friday’s Restaurants and Washington Mutual.

Locally, Canyon-Johnson Urban Fund and Corus Bankshares Inc. of Chicago are financing the construction of the $103-million Plaza Midtown which has just broken ground on a premium 3.3-acre, full city-block site that runs from Eighth Street to Peachtree Place, between Springs and West Peachtree streets in Midtown.

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