Key points:
• The Sandy Springs City Council approved $1.775 million in fee and permit waivers at its Aug. 18 meeting for the developers revitalizing the North River Shopping Center site.
• Woodfield Development is set to build 336 apartments and a public park on the south end, while other builders partnering on the $150-200 million project construct the retail space and townhomes.
• The city will own a new 0.71-acre public park located at 8830 Roswell Road following the site’s redevelopment.
The Sandy Springs City Council approved half of a $4.33 million incentive package for Woodfield Development as part of its overhaul of the North River Shopping Center, helping to secure a new park at 8830 Roswell Road.
The Aug. 18 resolution waives $1.775 million in impact and permit fees for the soon-to-be property owner — North River Apartments Owner, a subsidiary of Woodfield. City officials have been in discussions with the developer for months about how to deliver the community’s desired project, including a new city park.
Council member Melody Kelley represents District 2, which includes most of northwest Sandy Springs. When she first moved to the city almost 10 years ago, she said North End revitalization was already the most dominant topic in civic discussion.
“The city began to be very intentional and plan,” Kelley said. “What’s happening today isn’t accidental … it is the result of years of planning, tons of stakeholder meetings. And it is not the only thing happening in the North End … a lot is going on.”
North End revitalization
If Woodfield Development closes on the 13-acre site by the end of September, Sandy Springs’ North End could be well on track for a new, “catalytic” $150 million mixed-use project. If all goes smoothly, construction is expected to begin later this year.
The proposed development plan includes 336 market-rate apartments and another builder putting up 85 for-sale townhomes and 10,000 square feet of retail space. Woodfield has about eight of the 13-acre North River site under contract and will spearhead construction of the apartments.
The city’s economic development department estimates the incentives to be about two-thirds of Woodfield’s investment in the more than $6.5 million park, including land value, park facilities and signage, and 70 parking spaces. The parking lot built by the developer would be available for city residents visiting the park.
If all goes smoothly, Economic Development Director Chris Burnett said the fee waivers will be documented in an agreement at closing, and the tax abatement will close after Woodfield’s land purchase in September. The city would own the 0.71-acre park.
“It will give a wonderful place for residents to gather,” Burnett said. “It’ll be a tremendous benefit for the retail and the restaurants that come there. I think we hear from so many of our families that they want restaurants where they can sit with their kids and relax while the kids are playing and they’re waiting on their table to free up. And this project exactly does that; I think what we’ve envisioned for this site.”
Years of work
Burnett said the recreation and parks department’s design of the park, with a playground, pavilion, and greenspace, is nearly complete. He said the total investment in the project could be $200 million and could encourage other developers in the area.
In 2021, Sandy Springs leaders began eyeing revitalization of the city’s North End neighborhoods along Roswell Road (SR 9) during the pandemic after about a decade of stagnation. It’s lagging behind City Springs and Central Perimeter in real estate development.
Burnett said Woodfield’s acquisition of the site and the proposed project only works if all of the existing retail, most of which is vacant, is scrapped. The city’s incentives are contingent on the termination of existing leases.
“We’re not ready to talk about who the townhome developer is at this point,” Burnett said. “He has been very involved in this conversation … that continues to move in the right direction. We’re very close to the goal line on reaching that agreement for for-sale townhomes on the north end.”
Mayor Rusty Paul said the city has seen a real estate investment trust buy up all of the developer’s promised owner-occupied townhomes and turn them into rentals along Roswell Road.
“That’s why we’re a little apprehensive, if you will, about this, to make sure that we get what is promised,” Paul said. “It’s not a lack of trust, but it is a ‘trust but verify’ kind of situation.”
Next steps
The developers plan to officially plat the townhomes and prepare the site for construction, which city staff helps ensure the townhomes are owner-occupied or fee simple.
“This project represents the vision we’ve had for the north end for years,” Paul said. “Today’s action demonstrates Sandy Springs’ commitment to working alongside the private sector to create vibrant, connected places that improve quality of life and strengthen Sandy Springs for generations to come.
The Sandy Springs Development Authority will consider a 10-year tax abatement on the proposed apartment units, valued at $2.55 million, at its Aug. 26 meeting.
An abatement is a local property tax break given to a developer or business to encourage expansion in an area. In Georgia, legally granting this tax break requires “title bonds,” where a public development authority temporarily holds the property deed. The strategy is thought to eliminate outside debt financing and risks to taxpayers.
