The DeKalb Housing Authority, which owns the apartments, was under contract to sell the property to the Sembler Co., a St. Petersburg, FL-based commercial developer. Sembler announced plans in January 2007 for Town/Briarcliff, a 105-acre urban infill project that was to include approximately 1.2 million square feet of retail, 3,700 residential units and between 300,000 and 400,000 square feet of class A office space with a projected fall 2010 opening.
Property manager Gables Residential sent a letter to apartment residents that "the sale of the apartment complex will no longer occur as intended and that the purchase contract has been ended." Sembler executives in Atlanta declined comment when contacted by GlobeSt.com on Monday.
To read more from AJC about the demise of the Briarcliff project, click here.
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