Near Peachtree Corners’ new downtown-to-be, a decrepit shopping center is getting a facelift and some new tenants. City leaders consider the project the first phase of redevelopment for one of the entrances to the city.
But the rehab does not go as far as Peachtree Corners’ long-term plans to remake the area.
“There could be a lot more there, and we think (there) will be,” said Diana Wheeler, community development director for the Gwinnett County city. “They’re filling in vacant spaces, but they’re not adding a lot of density to it. There’s a long-term plan and vision for mixed use.”
For now, the shopping center on Holcomb Bridge known as Peachtree Corners Marketplace is getting new facades and a first-run movie theater. The owners are negotiating for a gym, a grocery store and national restaurant chains, project director Marc Orio said.
“If it comes together, it’ll be the gateway into the city,” said Orio, who works for owner JBL Asset Management, which bought the property in December. “We’re very, very excited, to say the least.”
Orio said JBL’s long-term plans include buying some adjacent property that includes a gas station and a restaurant and expanding the shopping center. There will be new landscaping, and a new sign. The developer is spending millions to update the center.
Wheeler said the work could “potentially be seen as the first phase of redevelopment.” The city’s plan is more intense, and includes mixed-use office and residential components that will generate more sustained activity there. Wheeler said the center, which used to have a second-run movie theater and a grocery store, had been underused since the recession.
“Any time you have activity, that’s a positive thing,” she said.
Rudy Klotsman, vice president of leasing and acquisitions for JBL, said their five-year plan “does not include” mixed-use components.
“We don’t see a reason for putting residential or office on the project in the near future,” he said. “Our vision and strategy was to redevelop the shopping center.”
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