Today, a deal was finally closed on the infamous Savannah River Landing site just east of the downtown historic district. This property has been owned by four firms in the past 15 years, and has spent the last 9 of those years in legal limbo after the original development stalled when the 2008 recession hit. This occurred in the early phases of construction, leaving behind a network of abandoned avenues and bulldozer tracks.
Finally, the site is back in business after two Atlanta-based firms acquired the property for just over $30,000,000 under the joint "Savannah River Landing LLC". The new development proposed by these firms will be massive (for Savannah at least) and is projected to cost $500,000,000 to complete.
The plan calls for two ten-story mixed-use buildings, a boutique hotel, a subdivision of private homes, and a supermarket. The Savannah Meteopolitian Planning Commission approved this project in March of this year, and the groundbreaking ceremony for the first phase of construction has been scheduled for the spring of 2018. The entire development is expected to take eight years to complete. Hopefully the development won't fall through (again).
http://savannahnow.com/news/2017-10-...0m-plan-begins