EAST ATLANTA — A construction moratorium that threatened to derail the planned redevelopment of the old John B. Gordon School has expired, which means the $15 million project can proceed.
Vinings-based Paces Properties plans to replace the school at 1205 Metropolitan Ave. with a three-story structure of 125 to 145 apartments.
Paces Properties almost walked away from the deal because the Atlanta City Council placed a moratorium on tearing down existing structures along select stretches of Moreland, including the East Atlanta Village business district and the Gordon School, which Paces said is beyond repair and must be demolished.
The the city council made that move following a 2008 South Moreland Avenue Livable Centers Initiative Study that sought to establish development guidelines for the corridor south of the I-20 interchange.
With the moratorium now dead, the deal will proceed, Larry Culbertson, a broker with KW Commercial Atlanta Midtown, told East Atlanta Patch. Culbertson represents the seller of the property.