Loudermilk Moving Forward On Buckhead Project Without Incentives
Despite being rejected for a property tax break, a notable Buckhead developer plans to move forward with his next mixed-use project anyway.
Loudermilk Cos. filed permits Dec. 20 to begin land disturbance work at 359 East Paces Ferry Road in the Buckhead Village — currently a surface parking lot — that will make way for a more than 200K SF mixed-use project. The permit will allow Loudermilk to prep the site to go vertical with a 12-story office and retail tower.
The permit comes weeks after the Fulton County Development Authority rejected a $2M incentive package for Loudermilk on the project that would have deferred more property taxes over a decade, the Reporter Newspapers reported.
“We just decided to move forward without it,” Loudermilk Cos. CEO Robin Loudermilk told Bisnow Thursday.
The project is set to include 100K SF of boutique office space, a parking deck and retail space. Loudermilk said the firm is in talks for construction financing, but said the firm could break ground as early as February or March.
“We don't have it locked down, [but] we're close,” he said.