Cumberland is booming, fueled by the arrival of the Braves at The Battery this year. But it turns out the momentum of nearby development isn’t quite what some developers anticipated.
Greenstone Properties, which had planned to construct a two-towered mixed-use development adjacent to the Cobb Energy Centre, have announced they’re backing out of the project.
The Marietta Daily Journal reports Greenstone could not secure a partner to construct a planned 16-story office tower. The group had reportedly been working on prepping the site over the past 18 months
The project would have included 400,000 square feet of offices, a 22-story hotel, 50 luxury condo units, and 35,000 square feet of retail. The towers would have had high visibility along Interstate 75, located just ITP, less than a mile from SunTrust Park.
The sloped, wooded site is owned by the Cobb-Marietta Coliseum and Exhibit Hall Authority, which oversees the nearby Galleria Centre as well as the Cobb Energy Centre.
It’s unclear if the group has plans for the site, which they had agreed to sell to Greenstone for $12 million.
- Developer nixes mixed-use project proposal near Cobb Energy Performing Arts Centre [Marietta Daily Journal]