demonbreun parking lot sold

the 1.5 acre parking lot across from tin roof on demonbreun street was bought this week by north carolina-based company, faison enterprises.  the last big undeveloped lot in the music row area fetched $6.75 million.  faison is working on permits and design for a new apartment development but plans to officially break ground by year’s end with occupancy available by 2014.

lionstone, the seller, originally planned to build a $75 million office building.  they were also rumored to be in talks with publix for the street level retail space at the time.

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