NEWS BRIEF: Major mixed-use community planned for East Lake
But without affordable housing...
A 12-acre lot in East Lake that’s been vacant for years could be turned into 300 new residences as well as public green space, if developers get their way. Situated along 2nd and Alexander avenues, the site is known as the Bag Factory.
Perennial Properties says the development would include 44 rental townhomes, two street-level retail slots with roughly 5,000 square feet of space, and 237 apartments which would all be market-rate, with none classified as affordable housing. A village green with a central pavilion would span about 32,000 square feet.
“While the proposed development will not have a lot of units to accommodate large families,” a Perennial rep said, “it will provide housing opportunities for young professionals and empty-nesters.” urbanize.city