Updated 4:54 p.m., July 26, 2011
Suwanee city officials have a good-faith agreement with a Norcross-based group and an Atlanta-area developer for the sale and renovation of the vacant Pierce's Corner building in Old Town.
Alison Starnes, Suwanee's Downtown Development Authority manager, said last week that initial plans call for the building, originally constructed in 1910, to be a combination of office and retail space.
"We're excited," Starnes said. "It's a positive step."
Officials have been reviewing proposals since the Jan. 31 deadline. City Attorney Gregory Jay will draft the final agreement, but city staff has been allowed to proceed with plans. It's not sure when work will begin.
Attorney Mike Deming Sr. of Norcross is one of the principals involved in the renovation. Also in the Deming Group are Michael Deming Jr. of Norcross, Chuck Warbington of Norcross (executive director of Gwinnett Village CID), and Robert Gresham of Buford.
Kirby Glaze of Jonesboro-based Community Development Partners also is involved, and he has a history of restoring historic properties in Georgia.
The sale price is approximately $250,000, meaning Suwanee will be selling at a loss.
The 6,000 square foot building has been vacant about 10 years, Starnes said. An annex likely will be eliminated at some point.
The Old Town area is one that has gained increasing attention from city leaders in recent years, as Town Center has become Suwanee's focal point.