Bank of America Postpones New Development on Commerce Drive
Decatur Metro | September 7, 2012
From the September issue of the Decatur Focus…
We hoped we could report on a new development for the Bank of America site, Commerce Drive at Clairemont Avenue, but the project has been postponed while negotiations continue with the bank. This key gateway site has long been on our wish list for a redevelopment that would use the land more effectively than the current suburban-style bank branch and asphalt surface parking lot.
The proposed mixed-use development would have brought much-needed rental apartments to downtown, created a more attractive gateway to the downtown district and helped frame Commerce Drive much the same way as the Artisan did a few blocks to the west. We will continue to work on the project and hope that the bank will agree to plans to relocate into a temporary facility on the site to allow the development to move forward.
Latest from Decaturish
Bummer.
Couldn’t have anything to do with the record fines BOA is paying due to their involvement with the subprime mortage debacle, could it?
Doubtful. This sounds like a real estate negotiation issue. Way more micro than macro.