Parkside Partners Plan Office Condos at Glenwood Park
By Alex Finkelstein
Globest.com
Last updated: May 27, 2004 02:23pm
ATLANTA - Locally based Parkside Partners Inc. has bought the former
Williams Brothers office building at Green Street Properties' Glenwood
Park and plans to convert the property into 22,000 sf of office condos
above one level of covered parking. The deal closed in April but
was announced today. The price wasn't disclosed.
Parkside officials plan to renovate the building, now called
Brasfield Overlook. The 28-acre park, two miles from Downtown,
will include 60 single-family homes, 100 to 130 townhouses, about
200 multifamily residences and 50,000 sf to 75,000 sf of retail
and office space.
"Having
offices at Glenwood Park is an important part of creating a vibrant,
active, daytime environment" Green Street Properties president
Katharine Kelley says in a prepared statement. Green Street was founded
by Charles M. Brewer who also founded locally based MindSpring Enterprises
Inc., the Internet service provider.
Green Street took control of
the Glenwood Park project at Interstate 20 and Glenwood Avenue
in November 2001. The company spent the past 30 months planning,
conducting site remediation and installing infrastructure "for a true urban
neighborhood with housing and retail and office space," says
Brewer in the same statement. "We've run the gauntlet and Glenwood
Park is emerging," he says. Brewer chairs the company; Walter
Brown is the firm's third principal.
The first single-family
homes at Glenwood Park will be completed in late summer. The
initial townhouses and retail buildings will be finished in
the third and fourth quarters of 2004. The office condominiums
are scheduled to be completed in November. Parkside Properties
didn't disclose the asking prices for the condos.
For the residential component at Glenwood Park, Green Street has
sold land to three local homebuilders that make up the Glenwood Park
Builder's Guild. They are Hedgewood Properties, Capstone Partners
and Whitehall Homes. The amount of land sold to the builders and
the prices they paid for the dirt weren't disclosed.
