A separate $1.8 million in tax incentives were previously approved in May for the Whole Foods grocery, restaurants and other retail portions of the development.
At the Tucker development, real estate company Fairfield Residential will receive about $2.4 million in property tax savings over the next 10 years. Fairfield Residential plans to build 210 multifamily units at a cost of $38.5 million near Northlake Mall on the site of the Old Hickory House, which will continue operating.
“The concept is to redevelop this entire quadrant of the Northlake area in hopes that will spur redevelopment throughout the Northlake corridor and Tucker in general,” said Tommy Brunson, a vice president for Fairfield Residential. “The goal is to have that serve as a catalyst.”
A separate development across the street will include Sprouts Farmers Market, Dick’s Sporting Goods, DSW and Ross stores, he said.
Both residential projects will be required to reserve 10 percent of their units for residents earning less than 80 percent of DeKalb’s median income.