Marietta closes on apartment complex
Marietta closed Monday on the Franklin Road apartment complex that will be demolished for use a park land.
The city paid Regions Bank $2.7 million for the Preston Chase complex and the 13-acre lot. The bank had foreclosed on the complex for $7.5 million. The city paid with money from the $25 million parks bond approved in November.
The complex has about 200 units. The city expects to demolish it in the fall or winter. The Marietta Housing Authority will manage the complex until then.
The citizens advisory committee for the parks is seeking the public’s opinion about possible uses for the property. Residents can submit suggestions on the committee's blog at www.mariettaga.gov.
For information, call the Marietta Parks and Recreation Department at 770-794-5601.
