Construction on New Town Center to Begin Spring 2016

PEACHTREE CORNERS, GA, Oct. 22, 2015 – At Tuesday’s City Council meeting city leaders took the next step in its plans to create a Town Center for Gwinnett County’s newest city by establishing the funding for the mixed-use development that will feature restaurants, retail, office space, townhomes and a town green.

The City is partnering with Atlanta-based Fuqua Development on the 20.6-acre project located on S.R. 141 near the intersection of Medlock Bridge Road. City leaders will be meeting with Fuqua next week to begin working on the construction plans.

The City will build the roads, parking deck and town green on the undeveloped site, Fuqua is responsible for the development of the retail, restaurants and office space. The residential component will be built by John Wieland Homes. At its Oct. 20, 2015 meeting the City Council approved a $15,250,000 bond resolution to pay for the city’s portion of the construction cost. The city will ultimately use SPLOST funds, which are distributed annually, to pay for the project.

“We are excited to move forward with this project,” said Mayor Mike Mason. “The Town Center is part of the city’s long-range plan to create a downtown that will connect the business and residential communities.”

The plans include at least 10 restaurants, retails shops, office space, a theater, 70 townhomes – and a two+ acre town green for community gatherings. Additionally, the plans show two restaurant outparcels and 16 townhomes overlooking the green. John Wieland Homes plans on constructing three- and four-story townhomes, with a minimum of 2,500 square feet. The price of the homes has not yet been established.

The city purchased the property in 2013 and later entered into an agreement with Fuqua to build a mixed-use development. In July of this year, the City Council approved the elevation plan for the city’s signature project.

The property had previously been slated for 267 garden apartments. City leaders thought a Town Center was a much better fit for the strategically-located property and stepped in to purchase the site.

The city expects to close on the sale of the property in March 2016 with a groundbreaking to follow. The Town Center is expected to be complete in mid-2017.

###

About the City of Peachtree Corners

Gwinnett County’s newest and largest city, Peachtree Corners was founded July 1, 2012 and is located along the shores of the Chattahoochee River in the southwest corner of the county. The city is home to some 38,500 residents and over 2,300 businesses. City Hall is located at 147 Technology Parkway, Suite 200, Peachtree Corners, GA 30092.

About Fuqua Development

Fuqua Development LP was established in March 2012 by Jeff Fuqua, Principal, and Heather Correa, Partner. Jeff Fuqua, the company’s namesake, was a Sembler executive for 24 years and was a Board member, Partner and President when he left Sembler to start the new development company. Heather Correa was a Sembler executive for 15 years and was Vice President of Development when she left Sembler to establish the new company along with Jeff Fuqua.