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Sandy Springs approves incentives for North River Shopping Center redevelopment
The incentive package is valued at just over $4.3 million and includes a recommended 10-year property tax abatement tied to demolition and redevelopment.
The City of Sandy Springs has approved an incentive package to support Woodfield Development’s planned redevelopment of the North River Shopping Center, an aging commercial site at 8830 Roswell Road, according to ConnectCRE.
Woodfield’s proposal would transform the center into a mixed-use neighborhood with 336 multifamily residences and 85 for-sale townhomes, alongside retail, restaurants, and a new public park. The developer has about eight acres of the 13-acre site under contract and is set to spearhead the project.
The incentives approved by City Council include waiving the City’s recreation impact and permit fees. ConnectCRE also reports that the City Council recommended the Sandy Springs Development Authority authorize a 10-year property tax abatement.
ConnectCRE said the combined incentives are valued at just over $4.3 million and are contingent on Woodfield Development demolishing the existing shopping center and completing the approved redevelopment and City park.