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The Metropolitan Atlanta Rapid Transit Authority (MARTA) has formed a partnership with Place Properties/H. J. Russel & Co. to develop a transit-oriented development (TOD) project at the King Memorial rail station.Later this year, the joint venture will begin construction on the project, which is slated to include 400 apartment units and 10,000 square feet of retail space.The proposed design will align with the MARTA station and has the potential to "enliven Memorial Drive and the surrounding area," agency officials said in a press release.The cost of developing the space is $51.3 million, according to MARTA."Redevelopment of the Memorial Drive corridor has accelerated over the past few years, and we are thrilled with the energy and innovative approach that Place Properties/H. J. Russell & Co. has brought to this TOD project," said MARTA General Manager and Chief Executive Officer Keith Parker. "The King Memorial TOD reflects our commitment to the live/work/play experience and our customers who relish a car-free lifestyle."The joint venture replaces Walton Communities, which initially was awarded the project in 2014.
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