| Announced
June 2009-
This development is located right behind
this property on Trinity Avenue.
Future Potential is UNBELIEVABLE!
Two real estate developers have bought the former
NationsBank/Bank of America Operations Center
in downtown Atlanta and plan to convert it into lofts
and retail space.
Atlanta-based Orinda Corp. and Charlotteville,
Va.-based Octagon Capital Partners reported their plans
for the property at 222 Mitchell Street, but they did
not disclose financial terms of the deal.
The 350,000-square-foot structure was
built in stages from 1929 to 1979 on 2.1 acres and occupies
the entire city block bounded by Spring, Forsyth, Mitchell
and Nelson Streets. Orinda and Octagon will convert the
property into a rental building with 205 loft units and
more than 70,000 square feet of commercial space.
Occupancy is expected in January 2011.
“The redevelopment of 222 Mitchell
Street into rental lofts and retail space will play a
significant role in the rebirth of this part of downtown
Atlanta,” said Dillon Baynes, president of Orinda,
in a statement. “We’re certain that living
at 222 Mitchell Street will appeal to young professionals
who work downtown, as well as to college students, especially
those who already attend one of the many fine institutions
in the area, such as Georgia State University, Spelman,
Morehouse, Clark Atlanta University and Georgia Tech.”
The larger Shaded Red Area is the New
Development,
The smaller Shaded Red Area
indicated this property for Sale.
|
