Word on the ‘Streets’
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|Has the mothballed luxury retail development Streets of Buckhead secured new financing?|
|We hear from unofficial Buckhead mayor Sam Massell that everyone is waiting for developer Ben Carter to verify he got the $200 million in additional financing he needs to go forward. The deal should close in July, according to Massell of The Buckhead Coalition, and construction is expected to restart not long after that. The source of the new money hasn?t been identified.|
|$150M of that went toward the visual effects seen here. The eight-acre development in the heart of Buckhead is envisioned as a ?Rodeo Drive of the South.? Hermes and Van Cleef & Arpels are among the super-luxurious names already signed on. Carter told theAtlanta Journal-Constitution in January he was seeking new investors. Since then, Carter has looked for them ?locally, nationally, and across the pond,? Massell tells us. Adding, ?I hope it's going to be exactly what he has been trying to do.?|