ALPHARETTA, Ga. – Coro Realty Advisors and the Alpharetta City Council struck a deal to work together to improve parking on Roswell Street in lieu of Coro contributing $36,000 to a downtown parking fund.
The council at its Feb. 3 meeting agreed to allow Coro relief from contributing to the parking fund in return for an easement for his parking spaces on Roswell Street adjacent to city parking.
Coro’s Alpharetta Town Commons, 10 Roswell Street, is one of the early new buildings built in the revitalization process that is ongoing in downtown Alpharetta. The building, which has most of its frontage on the south side of Milton Avenue, has had a sketchy time filling its 15,400 square feet.
Originally the building was to have office use on the second floor and only retail or restaurant use on the ground floor. It is home to the popular Corner Deli. But a 5,000-square-foot space next to it has been vacant for some time.
Coro Realty Advisors President John Lundeen sought and received permission from the Alpharetta Downtown Development Authority to change its ground lease to allow office use on the lower floor. Lundeen said he needed to amend the ground lease because he has been unsuccessful to recruit a restaurant, and his tenant upstairs needs to expand.
“If they can’t expand, I will likely lose them to a place that has the space that will accommodate them,” Lundeen said.
Council agreed that Coro had made good-faith efforts to lease the space as retail/restaurant. Councilmembers expressed an interest in combining the city’s parking area with the spaces Coro has. However, there is a difference in grade of several feet.
The council said it would accept an easement to allow traffic in the city parking lot egress onto Roswell Street, which would also mean access to additional parking on Roswell Street. Lundeen agreed.
In other council business:
• Council agreed to a $58,000 special events management contract with Premiere Events to manage the city’s Arts Street Festival, Taste of Alpharetta and the Wire and Wood Songwriters Festival. Premiere Events would manage the events and sell event sponsorships at a 20 percent commission.
• Council unanimously agreed to accept the RFP from Land Air Survey for its on-call surveying needs.
• Council unanimously agreed to extend for one year its economic incentives to recruit new businesses, which consists the waiving of permit fees. The request was made because the incentives package had lapsed, and the city is under consideration for a “significant” relocation or new construction project. The request was made by state economic developers.