Shopping center owner advances adjacent residential project in Tallahassee

Summit Group Commercial Properties owns Bannerman Crossings and plans to build houses and townhouses next to the shopping center

Miami /
Jul.July 29, 2018 03:00 PM

Bannerman Crossings in north Tallahassee (Credit: Joe Rondone | Tallahassee Democrat)

A project  to build high-end houses and townhouses next to a shopping center in north Tallahassee is headed for the permitting stage of development.

Summit Group Commercial Properties expects to start construction of nine houses and 22 townhouses.

The 52-acre residential development site north of Interstate 10 is part of a larger Summit-owned property that includes the Bannerman Crossings shopping center.

The developer expects to price townhouses at $400,000 and estate homes at $500,000 and up.

Rick Kearny, a wealthy executive in the information technology industry, is financing Summit.

The development company fought Tallahassee zoning rules and faced lawsuits filed by opponents of the company’s early plan to build 240 apartments next to Bannerman Crossings.

Summit hired Tallahassee-based Huffman Associates Studio for Architecture to design the residential development. [Tallahassee Democrat] – Mike Seemuth


Related Articles

arrow_forward_ios
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Alex Sapir and Giovanni Fasciano with Arte by Antonio Citterio in Surfside (Photos via Arte by Antonio Citterio/PR Newswire)
Miami penthouse sets cryptocurrency sale record: $22.5M
Miami penthouse sets cryptocurrency sale record: $22.5M
(iStock)
South Florida resi construction starts soar in March
South Florida resi construction starts soar in March
Eden Multifamily heads Jay Massirman and Jay Jacobson with Cypress Equity Investments CEO Michael Sorochinsky (rendering courtesy of MSA Architects)
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
(iStock)
Home prices across globe hit records, prompting worries of bubble
Home prices across globe hit records, prompting worries of bubble
Steven and Beth Millner with One Thousand Ocean (Patrick McMullan/Getty, Google Maps)
Private equity honcho pays $5M for Boca Raton condo
Private equity honcho pays $5M for Boca Raton condo
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)
South Florida’s pandemic-fueled residential market poised for bull run in 2021
South Florida’s pandemic-fueled residential market poised for bull run in 2021
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...