(To read more on the multifamily market, click here.)

ATLANTA-After reviewing a rezoning application for a proposed seniors condominium community for the third time in the last 18 months, Cobb County commissioners have rejected Marietta-based Palladian Inc.'s request in a 4 to 1 vote.

Neighborhood residents convinced commissioners the project's density didn't fit in with the surrounding subdivisions consisting largely of single-family homes on five-acre lots, residents attending the public hearing tell GlobeSt.com.

Palladian had planned to develop 10 four-unit buildings on a 9.3-acre tract on Old Canton and Robinson roads in east Cobb County. The condo homes would have sold for $300,000 to $400,000. Area construction sources tell GlobeSt.com the project's hard construction cost would have been in the $15 million range.