Nearly two acres will be purchased this month for around $450,000 by Kennesaw city officials for further development of Depot Park and a new gateway park.
The 1.87 acres will be bought by the city from Landmark Communities Inc., developers of 38 new townhomes next to Depot Park at the northwest intersection of Main Street at Sardis Street.
A Central Business District project, the three-story townhomes on nearly three acres will sell from $220,000 to $260,000 with a mandatory homeowners association and a 10 percent rental cap.
Landmark Communities has agreed to sell to the city the property required for Depot Park at the same price the company paid for the townhome property at $234,782 per acre.
Also, Landmark has agreed to sell to the city a small tract at the intersection of Main Street and Sardis Street for a gateway park to downtown.
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