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CA Ventures to Redevelop Buckhead Condos into High-Rise Apartments
Chicago-based CA Ventures has purchased the units at Paces Green, a 65-year-old Buckhead mid-rise condominium complex. The company plans to redevelop the property into an upscale 225-foot apartment tower.
CA Ventures acquired the condos last month in dozens of transactions valued at more than $16 million. The community includes two blocks of brick buildings separated by a courtyard.
Paces Green is the second 1950s-era mid-rise condo on East Paces Ferry that has been purchased recently with the intention of redevelopment. Nearby, Sobu Flats sold for $28 million to Atlanta-based Portman Holdings, and will be redeveloped into a hotel.
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