V LEADING FORT MAC PACK
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|Forest City Enterprises, Integral Group, and Cousins Properties are marching closer to a Fort McPherson redevelopment.|
|Sources tell us that the JV is being recommended by a committee tasked to review its qualifications and the other party vying for the redevelopment job: a Carter/H.J. Russell JV. The next step will be for the McPherson Implementing Local Redevelopment Authority (MILRA) to approve entering into negotiations with the powerhouse JV. One source familiar with the proposals says Forest City gave the JV a leg-up on the competition by agreeing to bankroll the entire redevelopment project over 20 years and even commence on an unspecified spec building. Redevelopment officials have envisioned the former army base (closed due to BRAC, including the above Army Reserve facility) as a mixed-use project with MOBs, office buildings, hotels, and nearly 2,000 residential units. (We'd like an office inside a gun turret, if there's one still available.) |