City Place tract goes back to lender
After construction was stopped last year on CityPlace, the largest condo project ever planned in Buckhead, Miami developer The Related Group recently reached an agreement with lender Wachovia Corp. to foreclose on a $50 million land acquisition loan.
The loan would have helped finance one of the most ambitious multifamily projects in the city’s history, six planned condo towers with about 3,800 units on about 16 acres at the intersection of Roxboro and East Paces Ferry Roads, near Lenox Square and the Lenox MARTA rail station.
One City Place, a 29-story tower with 269 condominiums and 11 townhouses would have been the first phase of the giant development.
The Related Group reportedly needed at least a $200 million construction loan to build CityPlace, something that has been impossible to obtain since the collapse of Lehman Bros. last year.
New Buckhead restaurant openings
Don Shula, the NFL’s winningest coach, is about to open his first metro Atlanta restaurant Nov. 19 in the Atlanta Marriott Buckhead Hotel and Conference Center on Lenox Road.
Shula’s 341 Grill is known for its steaks, but also has seafood, gourmet salads and other fare.
Tuk Tuk, the new restaurant of the family that owns Nan Thai Fine Dining and Tamarind Thai Cuisine, also is expected to open in November in the space previously occupied by Taurus restaurant in the Brookwood Station shopping center, 1745 Peachtree Road. Tuk Tuk will offer tapas-style fare by executive chef Dee Dee Niyhomkul, daughter of restaurant owner Charlie Niyomkul. It will be more Bangkok street food according to Nan general manager Thaddeus Keefe.