Shopping Center Business

OCT 2018

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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ATLANTA DEVELOPMENT October 2018 • SHOPPING CENTER BUSINESS • 63 In one of the many public-private partnerships around the metro Atlanta area, Fuqua Development has partnered with City of Peachtree Corners to develop Peachtree Corners Town Center in Gwinnett County. towers, plus three office towers we're go- ing to build, and additional multifamily behind the retail that will connect. There will also be townhomes and three hotels — the Marriott four-star and the existing Embassy Suites and Holiday Inn." Revel will also include a food hall, movie theater, an organic grocer and a food-driven bowling concept. Weinert says that NAP is currently negotiating 16 letters of intent with groups for restau- rants not including the food hall. "Atlanta is a chef-driven town, so see- ing the way they're embracing the project here is enormous," says Weinert. "The food and beverage and entertainment of- ferings will function as an anchor rather than specialty retail and fashion." GETTING THE CITY INVOLVED Many municipalities in the metro Atlan- ta area are getting in on the development action and partnering with local develop- ers in order to build a sense of community in their towns. Developers say that cities and townships are actively seeking them out because their citizens don't feel like they should have to travel to other cities to enjoy restaurants or entertainment venues. "Many municipalities are seeing the trend of residents wanting a more urban, walkable experience. We want to get out of our cars and enjoy our communities," says Mindy Selig of Selig Enterprises. "Pe- destrian access, green space and a success- ful mix of uses are crucial to these types of developments." Selig Enterprises recently delivered the retail portion of City Springs, a $229 mil- lion mixed-use project in Sandy Springs, a Fulton County suburb roughly 14 miles from downtown Atlanta. Selig partnered with the City of Sandy Springs and Carter USA for the project, which serves as the downtown for the city. The project features four restaurants and three health/wellness concepts, in- cluding two boutique fitness shops. The retail and restaurants serve the civic offic- es in City Springs, as well as a performing arts center. In Gwinnett County, Fuqua Develop- ment is partnering with City of Peachtree Corners to develop Peachtree Corners Town Center, a 21-acre development that will feature 70 townhomes, a town green and retail and restaurants. The $103 million project will be the second metro Atlanta landing spot for dine-in theater concept Cinebistro. Fuqua Development recently announced 14 oth- er tenants joining the project, including Marlow's Tavern, Farm Burger, Holly- wood Feed, Sage Dental, Tipsy Salon Bar, Salata Salad Bar and Feed Fried Chicken and Such. Gullia of Retail Specialists says de- mand is strong for even more of these projects as can be witnessed by other successful downtown overhauls including Town Center Suwannee and Downtown Woodstock. "Atlanta could use more high-quality, thoughtful mixed-use projects," says Gul- lia. "Thoughtful planning for the needs of the community in presentation, merchan- dise, event management and green space are key. More public/private partnerships clearly help these developments." Fuqua says that having city support is an added benefit to developing these mixed-use developments versus tradition- al private ventures. "If the city is a partner in the process, it helps it happen better and faster, prob- ably," says Fuqua. "That's why so many are happening. It's like having a business partner that's a city, it's a different kind of partnership." SCB

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