Sandy Springs Takes Another Step Forward With City Center Project

Sign up for the Sandy Springs Patch newsletter!

The Sandy Springs City Council on Tuesday approved two items designed to usher its City Center project forward.

The council unanimously approved a letter of intent with Carter/Selig Enterprises and a professional services contract with Rosser International.

The agreement with Carter/Selig calls for the developer paying the city an amount equal to $25,000 per residential unit intended to be developed, which is currently proposed at 295 units. Based upon that figure, that amount is estimated to be around $7.37 million.

Additionally, Carter will lease retail space from the city with an initial annual rent payment of $11.38 per rentable square foot of space, an amount estimated to be around $107,608 for 9,460 square feet.

Along with retail and residential components, the agreement covers parking. Carter/Selig will pay $9,250 per space for each of the shared residential parking spaces, with a maximum amount of $1.93 million for 209 spaces.

The agreement with Rosser calls for the city paying a fixed fee of $12.5 million for architectural services for the public portion of the project. That segment of the project includes city offices, city park, theatre and performing arts center.

Image via Shutterstock