Belmont Hills to get new homes, retail

Smyrna city officials have approved a developer’s plans to replace the mostly vacant Belmont Hills shopping center with a project that could bring as many as 902 homes and 127,000 square feet of retail space to the corner of Windy Hill and Atlanta roads.

Atlanta developer Jack Halpern said demolition will begin in the spring and construction on the first phase will start in the fall. The project will be built in up to six phases.

Halpern said the economy will dictate how many homes and shops will actually be built on the 47-acre site. He expects the economy to improve before construction begins. The project could take eight years to complete.

Plans for the first section of the development include a large fountain surrounded by shops, restaurants and 274 high-end apartment homes. Marietta-based Wood Partners will build the residential side of the project, which will include independent senior housing and single-family homes.

Halpern Enterprises has worked with the city since 2000 to come up with a plan for the aging property that the Halpern family has owned for more than 40 years. The council voted 6-0 to approve the project at Tuesday’s meeting.

Mayor Max Bacon hopes the $250 million project will spur redevelopment on the city’s north side, including Atlanta Road north to Marietta and Windy Hill Road to South Cobb Drive. The shopping center is in a tax allocation district passed by Smyrna voters in 2003 to improve rundown areas.

The developer will receive funds for a portion of infrastructure costs from Cobb County and Smyrna through tax increment financing. The builder pays for the project up front and is reimbursed after tax revenues increase in the development.