More builders interested in redeveloping North Point Mall

The builder who was denied rezoning to redevelop North Point Mall says he will continue to pursue the project.

Terry Montesi, CEO of Trademark Property Company, said in a statement Thursday that he wants to continue working with Alpharetta “to transform the property into a beautifully designed and highly engaging destination.”

In 2021, Trademark was hired by mall owner New York Life to remodel 83 acres of the shopping center property. City Council members disliked the project designs, including the number of apartment units, and rejected rezoning for the site during a Monday meeting vote.

ExploreAlpharetta rejects $550M redevelopment plan for North Point Mall

Trademark can submit a new application for rezoning in six months and now more developers are interested in remodeling the 100-acre shopping center.

James Drinkard, assistant city administrator for Alpharetta, said the city has received phone calls from other development firms expressing interest in the site since Monday.

Drinkard said all were referred to New York Life.

A point of disagreement between Trademark and Alpharetta was 875 apartment units that the developer wanted to build. Montesi has said that number was necessary in order for the overall project to be financially viable, adding that a lower number would result in the builder canceling the project.

Alpharetta wanted 650 apartment units. City officials have voiced concerns in recent months about transient renters.

During public comment at the City Council meeting on Monday, Phil Tague, president of AMLI Residential apartment communities said 90% of renters at his Alpharetta property stay more than four years and most go on to buy homes in the area.

Tague also expressed interest in building apartments on the mall site.

“I will guarantee you if Trademark doesn’t want to build the 875 apartments, we would be honored to do so and would do so in a flash …,” he said.

The Atlanta Journal-Constitution was unable to reach Tague to ask if AMLI Residential is working to be a builder on the North Point site.

When first asked earlier this week, Montesi did not say if he or New York Life would continue to try to redevelop North Point Mall.

In his statement Thursday, he said: “We believe strongly in the plan to redevelop North Point Mall into a true mixed-use destination and we’re excited to continue our positive collaboration with the City of Alpharetta.”

Montesi added, “We appreciate the overwhelming support from community members and remain committed to creating a revitalized project of which all stakeholders could be proud.”

During the six-month period that Trademark would have to wait to submit a new rezoning application, the firm can work with city staff on project plans, Drinkard said.

“If you think about it, for something (of) this size and scale, it will probably take them six months to be able to come up with something new to submit anyway,” Drinkard added.