Peachtree Corners will break ground on its new 21-acre mixed-use town center at 2 p.m. June 30, near the traffic circle at the intersection of Peachtree Parkway and Forum Drive.
Constructed on one of the city’s only remaining undeveloped sizeable tracts of land on Peachtree Parkway, the $103 million project will include anchor tenant Cinebistro, a dinner and a movie theater, restaurants, retail shops, office space, townhomes and a 2-acre town green.
The property had been slated for a 270 garden-style apartment development before the city stepped in to purchase the property in 2013.
“In our Livable Centers Initiative study, we asked our citizens what they would like to see on this centrally-located piece of property. An overwhelmingly majority said what the city needed was a place where they could come together as a community,” said Mayor Mike Mason.
The city, which maintains a zero property tax, will not carry any debt for the town center development. A loan to purchase the land was paid off following the sale of development rights to Fuqua Development. In a public/private partnership, the city’s Downtown Development Authority will retain ownership of the parking deck, town green and roadways.
The town center is expected to open in the fall of 2018.