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Sandy Springs OKs $200M incentives for overhaul of North River center
The city approved a more than $4M incentive package, including a 10-year property tax abatement, for a 13-acre mixed-use redevelopment that will add 336 apartments, 85 townhomes, and retail.
HousingWire reports that Woodfield Development will redevelop the aging North River Shopping Center, a 13-acre strip center at 8830 Roswell Road in Sandy Springs, into a mixed-use project that combines apartments, townhomes, retail, and restaurants along with a new public park.
According to the city action covered by local outlets, the Sandy Springs City Council on Aug. 18 granted the $200M project a more than $4M incentive package, including a 10-year property tax abatement, to support the redevelopment of a site described as more than half empty.
Under the agreement, Woodfield will deed a 0.71-acre green space to Sandy Springs for integration into the development, and the developer has already begun demolishing some vacant buildings at the site.
Woodfield says it plans to start construction later this year, and the land sale is expected to finalize next month, according to remarks reported by The Atlanta Journal-Constitution.