[CPEO-BIF] Doraville, Georgia GM redevelopment "dead"

[Lenny Siegel <lsiegel@cpeo.org>]

GM Doraville, New Broad Street deal dead

by Douglas Sams
Atlanta Business Chronicle (GA)
August 24, 2010

The DeKalb County Board of Commissioners voted 5-2 to kill New Broad 
Street Companies' deal to acquire and redevelop the former General 
Motors plant on 165 acres in Doraville, Ga.

DeKalb County CEO Burrell Ellis lamented the $110 million project would 
have created 9,000 jobs and pumped $360 million in wages back into the 
local economy.

Ellis called Tuesday's defeat a "lost opportunity" but said "all hope is 
not lost." He will try to work with the board to pursue other ideas for 
the site.

The plans called for New Broad Street and the county to buy the GM 
property for $60 million. Of that price, DeKalb County would have had to 
chip in $35 million, financing its portion through bonds and federal 
stimulus funding.

...

For the entire article, see
http://atlanta.bizjournals.com/atlanta/stories/2010/08/23/daily17.html

--


Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org



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