Power Breakfast: Developer to buy GM Doraville site
Power Breakfast: Developer to buy GM Doraville site, tax incentives, Synovus, Falcons, Obama, Bernanke
There’s good news on the real estate front for a change.
An Orlando developer has a contract to buy the old General Motors plant in Doraville and plans to build a “clean and green” community of houses, shops, restaurants and offices on the site, AJC staffers Gertha Coffee and April Hunt report.
New Broad Street Cos. said it has been in discussions with GM for more than 18 months. The Doraville plant closed in September 2008.
“It could be any mix of uses,” New Broad Street spokeswoman Barbara Koenig said Thursday. “Any mix of commercial, retail, residential.”
The deal is expected to close in early summer. The purchase price will not be disclosed, Koenig said.
“This is the best urban infill site in the country for a large transit-oriented development,” New Broad Street president David Pace said in a statement. “It will be clean and green, incorporating environmental remediation of the former industrial site with best practices for sustainable development.”