Avondale’s Commander Apartments and St. Johns Village shopping center have been sold. The deed has not been recorded yet, but a spokesman for Chance Partners of Atlanta confirmed Friday that the company has purchased the property.
Brian Moulder, executive vice president of CBRE and the broker who handled the sale, said Chance paid $5.8 million and plans to spend many millions renovating the tower and adding more apartments.
The sale includes the 16-story, 90-unit tower at 3946 St. Johns Ave. and St. Johns Village shopping center next door, both overlooking Fishweir Creek. The two parcels total 5.9 acres.
The apartment building was built in 1961, the shopping center in 1987.
The site was discussed for redevelopment, including more apartments and retail space, several years ago. After many neighborhood meetings and several redesigns, the project was approved by the City Council.
