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JV To Break Ground on $150M MXD by Year's End

NEWNAN, GA-The one-million-sf Newnan Village Crossing will contain three hotels, medical offices, retail space, restaurants and an assisted residence facility.

By Natalie Keith | Updated on November 09, 2007

NEWNAN, GA-A joint venture of locally based Diplomat Cos. and Lawrenceville-based Kennedy Capital Group LLC plan to begin construction by the end of the year on a $150-million mixed-use project. Newnan Village Crossing will encompass one million sf.

The project, located on a 125-acre parcel in Coweta County, will consist of three hotels, medical offices, retail space, restaurants, and an assisted residence facility. The first buildings are scheduled for occupancy within a year. Kennedy Capital Group chairman and CEO Marty Kennedy tells GlobeSt.com that a master plan has been developed for the project, but specific details about each component of the project have not yet been finalized.

The hotel will be constructed during the project’s first phase on 22 acres. A hotel operator has not yet been selected. Leasing efforts for the other commercial space in the project have not yet started. The build-out for the entire project is expected to be two to three years, Kennedy says.

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