A multi-use development off Limestone Parkway across from New Holland Market in Gainesville could finally begin to emerge.
Graded portions of the property, or the retail part of the development, are under contract, said Billy Powell of SVN Hokayem Company Inc., a commercial real estate advisers group.
And a yet-to-be-graded multifamily part of the 75-acre development, which would be behind the retail part, is “close to being under contract,” he said.
Neither he nor George Hokayem of the same group could divulge potential buyers.
“There’s been an extreme amount of interest in that development,” said Powell.
“From throughout the Southeast, we’ve had interest (from) users, developers of retail, multifamily, restaurants,” Hokayem said. “It’s really been remarkable to me to watch.”
The development, which extends from Jesse Jewell Parkway to south of Beverly Road, was approved by Gainesville City Council in 2018, with grading taking place in stages ever since. Site preparation also has included construction of a bridge.
More recently, property across from McDonald’s restaurant has been cleared.
At approval, plans called for 189,400 square feet of office, restaurant, retail and hotel space. The residential part of the development would have 33 single-family homes and up to 252 apartments.
The development would be part of an overall booming area of Gainesville near Interstate 985.
New Holland Market, anchored by Kroger Marketplace, has flourished over the years, with outparcels filling up land on both sides of Jesse Jewell Parkway between Limestone Parkway and White Sulphur Road.
A 6,070-square-foot building proposed at nearby 374 and 400 Crescent Drive, across the street from the Hall County Farmers Market, was recommended for approval in December by the Gainesville Planning and Appeals Board. The retail building would feature a Dunkin’ doughnut shop.