2008 Planned to be BIG Year for Alpharetta
categories: Alpharetta Real Estate, Local Affairs
As we all get ready to celebrate the start of 2007, Alpharetta has its eyes on a bigger prize: two-thousand and EIGHT! 2008 will not only be the sesquicentennial for Alpharetta but it will also be the year that three major new developments are planned to be completed.
These three developments will shape the next chapter in Alpharetta’s history and further establish Alpharetta as a destination city in north Fulton County.
The three new developments are Prospect Park, Encore Park and the Alpharetta City Center.
Prospect Park
Prospect Park is a $1Billion development in the northwest corner of the GA-400 and Old Milton Parkway intersection. The developer, Thomas Enterprises, had broken ground and dirt work is underway. Planned for the site are 750,000 sq ft of high-end retail, a “life style center” a.k.a. spa, and designer boutiques. The total retail will be about half of what NorthPoint Mall currently has.
Also included will be The Stanbury, a 140 room Georgian Revival style six-star hotel, the only one in the country. There will be 80 additional condos, starting at $1.5 million and there could be a second, less high-brow hotel.
The whole mixed use complex will have two towers, one 10 stories and the other 6 stories.
Encore Park
The second development is Encore Park, which is the amphitheater planned as the northern home of the Atlanta Symphony Orchestra. It is being planned by Cousins Development and will seat 12,000 people, twice what Chastain currently seats and may potentially have skyboxes.
There is also a Multi-Use Facility in the plans for smaller concerts, gallery showings and stag productions. This project is still in planning, though; and the public private partnership has not been solidified to start work.
Alpharetta City Center
The trifecta will be a new Alpharetta government complex. The existing City Hall will be razed and the entire block in the middle Alpharetta will be redeveloped with an acre-sized plaza and 53,000 sq ft of office space to consolidate all city offices.
Included in the development will also be 60,000 sq ft of street-level retail, not as high-end as Prospect Park, and 150 residential condos priced in the $200’s and $300’s. Two parking structures will round out the project.
Currently, the City is waiting for resolution of issues surrounding the Tax Allocation District before work can start, but that is expected to be resolved favorably in the very near term.
All three projects are expected (hoped??) to be completed by sometime in 2008. Parts of Westside Parkway will be completed as part of Prospect Park and will be completed in 2007. When everything is finished, many of the amenities that you now travel to Atlanta, Cobb County or New York City ;-> will now be available within your zip code, making Alpharetta a destination not only for work, but also for recreation, relaxation and shopping.
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