Crown Holdings To Sell Cheshire Bridge Multifamily Site
One of Atlanta's upstart developers who pursued Mercedes-Benz HQ and plans a mega development in Roswell looks to be selling a Cheshire Bridge Road apartment site to another developer.
Crown Holdings has filed a permit with the City of Atlanta to demolish an existing commercial building at 2470 Cheshire Bridge Rd (on permits, it's listed as an existing apartment building, but a former 25k SF restaurant is on the site). In turn, Crown's Blair Schlossberg is slated to sell the site to an another unidentified group for a project that remains a mystery. We tried to reach Blair, but calls were not returned.
There may be some clues to what could eventually emerge. A recent Loopnet listing says the property is zoned to allow for a 284-unit mid-rise “podium-designed” apartment project over structured parking. Crown has owned the site for the better part of two years, and seems to be simply putting entitlement docs in a row for the potential buyer of the nearly five-acre site next to CB Lofts. Aside from the former Gold Kist HQ site, Crown also is working on developing a mega project off Old Alabama Road, which we reported here.