So far, the development is set to include 1.2 million sf of retail at completion, with approximately 300 residential units, including senior housing and an as-yet-undetermined amount of flex office space. The first phase will include 300,000 sf of retail and is set to begin construction early next year, to be completed by the first quarter of 2010. In addition, a four-lane parkway will be built as a thoroughfare for traffic traveling to and from the north side of the city, and will connect the North Bypass with Highway 71.

"The Hammond Creek project will mirror many of our other premium mixed-use developments by bringing desirable retail anchors and tenants into a Main Street environment," says Martin McFarland, vice president with Opus South's Atlanta office. "We see the area as being underserved with retail at the moment and expect the project to be a welcome addition for the residents in the city of Dalton and surrounding areas."

According to Dougherty, tenant interest is extremely high and the company has already begun negotiations with a grocery store anchor for phase one and have substantial interest from National Softlines department stores.