Construction could begin later in 2014 on the historic Pierce’s Corner building in Old Town Suwanee, now that the final legal hurdle has been passed.
Norcross attorneys Michael Deming Jr. and Michael Deming Sr. lead a development group that has a lease-purchase deal for the century-old building. They gave the Suwanee Downtown Development Authority a briefing Tuesday morning (Feb. 18).
It was the ownership group’s first City Hall meeting since federal officials announced late in 2013 that a 67-acre portion of Old Town Suwanee would be included in the National Register of Historic Places.
That announcement opened the way for federal tax credits to be used for Pierce’s Corner and other development in the new district. The ownership group had deemed the credits essential to completing the Pierce’s Corner deal.
Deming Jr. said Tuesday that plans still call for a restaurant to be on the ground floor, with a so-called business incubator to be housed on the second floor.
Talks on financing and construction have begun, but are preliminary, Deming Jr. said. Also, it’s too early to make a definite announcement on a restaurant tenant.
The historic district development comes at a time when other significiant properties are for sale in the new historic district. The Rhodes House on Russell Street is listed, as is the Main Street building that used to house the Creative Clayhouse.