Large-scale development scaled back after recession
A large mixed-use development in Gwinnett County that was approved right before the recession has been scaled back.
The project, on Lakes Parkway near Ga. 316 and Sugarloaf Parkway, was originally supposed to be a high-rise development with more than 1 million square feet of offices, retail, condominiums and a hotel when it was approved in November 2008.
“We were being pretty aggressive,” consultant Mitch Peevy said of the original plan. “It will never be funded or built in today or tomorrow’s world.”
Tuesday, Gwinnett commissioners agreed to let the developer, CL-RP Sugarloaf, alter the master plan. Four apartment buildings would have 240 units with an asking rent between $950 and $1,200 a month. The maximum square footage of the whole development will be 250,000 square feet, not 1.5 million, and buildings will not be taller than four stories.
In their application, the developer said the location between Gwinnett Tech and Georgia Gwinnett College makes it ideal for rental housing.
Peevy said the development is intended for millennials, not families. The apartments will include services like valet trash pickup.
“It’s for people getting out, starting on their own, who are not quite sure how to take care of themselves,” he said.
About the Author
Arielle Kass covers Gwinnett County for The Atlanta Journal-Constitution. She started at the paper in 2010, and has covered business and local government beats around metro Atlanta. Arielle is a graduate of Emory University.
