Atlanta Real Estate News category interest

Atlanta-based Parkside Partners LLC notified the Development Authority of Habersham County on Monday that they would terminate an agreement in place for over four months for them to buy the old Habersham County Courthouse in downtown Clarkesville.

The agreement was made on May 31 for Parkside Partners to purchase the old courthouse at roughly 2.07 acres for $500,000 with plans to redevelop it for retail, office, restaurant, and residential units for sale as well as a parking garage in the basement.

In the notice of election to terminate the agreement, Parkside Partners wanted the release of the earnest money due to “unsatisfactory title conditions.”

That request is under review of counsel as of now.

Chairman of the Habersham County Development Authority Jim Butterworth said he is disappointed in Parkside’s decision.

“Parkside unilaterally terminated the memorandum of understanding that would have led to the sale of the old courthouse,” Butterworth said in a press release. “We look forward to finding out their concerns as we move forward.”

There were no concessions and no tax incentives in the deal according to Habersham County.

The gazebo, Habersham County Killed in Action Memorial, and the Habersham County Agricultural Services Building were to remain under county ownership.

Clarkesville City Manager Keither Dickerson said he was disappointed it did not work out.

County Manager for Habersham County Alicia Vaughn said all government parties were in agreement on a 15-day extension to the due diligence which was not accepted by Parkside.

“I am proud of the collaboration between the county development authority and the City of Clarkesville,” Vaughn said in a press release. “We are disappointed but will move forward and continue to work together as we determine next steps.”