Sandy Springs Okays Incentives for Mall Redevelopment
The City of Sandy Springs approved an incentive package to support Woodfield Development’s transformation of North River Shopping Center. The approval advances Woodfield’s planned redevelopment of the aging commercial center into a new mixed-use neighborhood featuring 336 multifamily residences, 85 for-sale townhomes, retail, restaurants and a new public park.
Woodfield Development has approximately eight acres of the 13-acre North River Shopping Center site at 8830 Roswell Road under contract and will spearhead the redevelopment. To help advance the project and its community benefits, City Council approved targeted incentives.
The incentives include waiving the City’s recreation impact and permit fees, as well as a recommendation for the Sandy Springs Development Authority to authorize a 10-year property tax abatement. Together, the incentives are valued at just over $4.3 million and are contingent upon demolition of the existing shopping center and construction of the approved redevelopment and City park by Woodfield Development.
Construction is expected to begin later this year.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout