$600 million project gets underway
After nearly six years of inactivity, the property now called Avalon between Westside Parkway and Ga. 400 on Old Milton Parkway will see construction going up. Avalon broke ground – and concrete – Jan. 28 amid great hoopla for this $600 million mixed-use project.
An eyesore for many years, what was once "Prospect Park" stalled mid-construction when the economy tanked and the developer went bankrupt. What should have been a mixed-use model instead turned into a derelict and abandoned project.
That changed at the groundbreaking amid cheers when the wrecking ball sailed into the concrete foundation that had blighted the corner of Old Milton Parkway and Ga. 400 for several years.
"Prospect Park was the symbol of everything that was wrong with the economy," said Alpharetta Mayor David Belle Isle. "Now, it's a symbol that everything is OK."
Amid a large party on site, Avalon lit a bonfire and had a parade of bulldozers announce the end of Prospect Park. As people watched, a wrecking ball knocked down portions of standing cement and a crane began disassembling a parking deck.
North American Properties developer Mark Toro tried to allay fears of a repeat of history by stressing he and his team have been aggressive in pursuing tenants and conservative in waiting to build.
"Fifty percent of Avalon's Phase I development is leased out with a further 30 percent in negotiations," Toro said.
Most of Phase I will be retail. The residential aspect of the 86-acre property will come about 60 days later.
"Prospect Park was a symbol of the downward spiral and the recession," said Belle Isle. "Now, I don't know too many cities who are breaking ground on $600 million projects."
Avalon will feature a movie theater, a 475-room hotel and dozens of stores and restaurants. It is expected to employ about 4,500 people. It will also be home to numerous events during the year, including ice skating on a rink rivaling that at Rockefeller Center.
Monte Hewett, the longtime Atlanta builder who has charge of the residential component, said the real estate market is back from the dead. He said he sees no problems starting the homes once the retail is up.
"The day after Christmas, we started writing contracts [not for Avalon] and we are getting multiple offers for product that is built," Hewett said.
Avalon by the numbers
86 acres
$600 million project
4,500 jobs
34 retail or restaurant tenants
250 homes and townhomes
475 hotel rooms
500,000 square feet of retail
$4.5 million annually in new property taxes
$21 million in annual sales tax revenue
The people living on the property in homes, condos, apartments and at the hotel will create a buzz at Avalon all the time.
"This is going to have a regional impact," said Greater North Fulton Chamber of Commerce CEO and state Sen. Brandon Beach. "Avalon will be iconic and transformational for all of North Fulton."
Avalon will ripple through the region as a destination that will draw other companies and businesses to the area.
"We need this in our toolbox to recruit companies," he said.
Beach said the effects of a project of this size will be enormous, employing people throughout the region and drawing customers and tenants to its shops.
"You don't build a development like this if you're still in a recession," said Belle Isle. "This property is still a symbol – now it's of revival."
Avalon is expected to open Phase I in August 2014.
Avalon is now 50 percent leased with another 30 percent in negotiations. North Atlanta residents can expect these shops to open:
Food
Chef Ford Fry concept
Cru Wine Bar
Kona Grill
Marlow's Tavern
Pinkberry frozen yogurt
Savor Boulanger
Ted's Montana Grill
Whole Foods
Yeah! Burger
Style
Dry Bar Salon
Luxury Nail Spa
Van Michael Salon
Clothing
Anthropologie
Athleta
Banana Republic
C. Wonder fashion
Destination Maternity
Fab'rik
Gap
Lululemon Athletic
Marmi Shoes
Orvis
White House Black Market
Other
Arhaus Furniture
L'Occitane Fly Wheel
Mitchell Gold + Bob Williams home furnishings
Paper Source stationery
Regal Cinemas
Labels: Alpharetta, Avalon
# posted by
Brian Vanderhoff @ 9:05 AM
Crabapple Government Center, 12624 Broadwell Road, Alpharetta, GA
Alpharetta City Hall
Monday, February 11, 2013 7:00 PM
Wednesday, February 20, 2013 7:00 PM
ALPHARETTA IS LISTENING - TELL US YOUR IDEAS FOR IMPROVING RUCKER ROAD
The City of Alpharetta is hosting a series of meetings for citizens who live in neighborhoods along Rucker Road for the purpose of learning:
• How you think Rucker Road can be improved
• What changes you would like to see along the roadway
• How you want Rucker Road to look and feel
• What pedestrian or bicycle improvements you may want on Rucker Road
• What concerns you may have
• In what ways you do not want the road to change
WHAT THIS IS: These sessions are designed for you to share your ideas and concerns and for us to listen. Because you live along Rucker Road, you have a vested interest in how the road functions and what it looks like, and you probably have some very good ideas that the City of Alpharetta would like to incorporate into the future design of Rucker Road.
WHAT THIS IS NOT: These meetings will not be filled with presentations by engineers or City representatives telling you what will be done to Rucker Road. In fact, except for asking questions, our staff will do very little talking.
MEETING SCHEDULE: Three sessions will be held for the purpose of hearing what you have to say, so you have multiple opportunities to participate.
Monday, February 11
Alpharetta City Hall
2 South Main Street
7:00 PM
Wednesday, February 20
Crabapple Government Center
12624 Broadwell Road
7:00 PM
Tuesday, February 26
Alpharetta City Hall
7:00 PM
Based upon the comments collected during these sessions, our engineers will create a design for the future of Rucker Road that will be presented to the community in March. The time and date of that meeting will be set once the design work is completed, but we will let you know as soon as it has been set.
Whether you join us for one session or choose to attend all three, please do not miss this opportunity to share your thoughts, ideas and concerns as the future of the Rucker Road Corridor is planned. You have a vested interested, don’t you want to be part of creating the solution?
Labels: Alpharetta, alpharetta city hall, Alpharetta Events, rucker road
# posted by
Brian Vanderhoff @ 9:53 AM
