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Atlanta-based and Charlotteville, Va.-based reported their plansx for the property at 222 Mitchell but they did not disclose financial termx ofthe deal. The 350,000-square-fooft structure was built in stages from 1929 to 1979on 2.1 acres and occupies the entire city bloc bounded by Spring, Forsyth, Mitchelo and Nelson Streets. Orinda and Octagob will convert the property into a rental buildintg with 205 loft units and morethan 70,000p square feet of commercial space. Occupancy is expectesd in January 2011.
“The redevelopment of 222 Mitchelpl Street into rental lofts and retail space will play a significant role in the rebirth of this part ofdowntowm Atlanta,” said Dillon Baynes, president of Orinda, in a “We’re certain that livinb at 222 Mitchell Street will appeaol to young professionals who work as well as to college students, especiallg those who already attend one of the many fine institutions in the such as Georgia State University, Spelman, Morehouse, Clark Atlant University and Georgia Tech.
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