Twin Towers for Lake Lanier?

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High-rise plan at Lake Lanier irks neighbors

By JANET FRANKSTON

The Atlanta Journal-Constitution

Published on: 04/04/04

Even though two luxury towers proposed for the shores of Lake Lanier in Gainesville seem unrealistic to some nearby residents, they are starting to organize against them.

Neighbors opposed to the Canterbury at Lake Lanier don't like the idea of 34- and 36-story buildings looming above the lake. They're skeptical about proposed multimillion-dollar condos and a "six-star" boutique hotel

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Gainesville towers land deal expires

By JANET FRANKSTON

The Atlanta Journal-Constitution

Published on: 06/06/04

Even though a contract has expired on land for which two high-rise towers in Gainesville were proposed, developers say the project isn't dead.

Endeco International, a sole proprietorship based in New York, had proposed 34- and 36-story towers for the shores of Lake Lanier off Thompson Bridge Road in Hall County. The $325 million project was conceived to attract people of wealth and power from around the world to 150 condominium units and 34 hotel suites. Some lakeside residents opposed the project, saying it didn't fit in an area of homes and small office buildings.

Last month, Endeco and a company created to finance the project, American Capital Building and Investment, withdrew rezoning and annexation requests with Gainesville's planning department.

Now, the owner of five of the 10.6 acres on which the towers were to be built says his land deal is off. Don Hall, chief executive officer of Jones & Hall Ventures, said American Capital Building's contract on the land has expired and won't be extended.

"I don't intend to renew it, and I haven't heard anything from them," Hall said. "From my standpoint, the thing is a dead issue. It's been almost a week, and they haven't asked to extend the contract ... I've had just an awful lot of very good qualified lookers."

But Lou Fiorenza, a consultant to Endeco, said the project is still alive.

"Nobody is walking away from anything yet," he said. "They're still working on it. There's lots of scenarios that can take place."

Neither Endeco nor its principal, R. Eric Castro, has a track record as a primary developer