DUNWOODY, Ga. — The $2 billion High Street development long-planned for the 42-acres across the street from the Dunwoody MARTA station has received a second extension to negotiate tax breaks.
At its May 14 meeting, the Dunwoody Development Authority approved a 60-day extension of the negotiating period. The developer, GID Development Group, and the development authority now have until the end of July to reach a deal.
Last year, the authority gave initial approval for a $19 million tax abatement over 10 years.
High Street plans predate the incorporation of the City of Dunwoody in 2008. Designs include 400,000 square feet of retail and dining, 635,000 square feet of Class A office space, a 400-room hotel and 3,000 residences.
The development fits into a metro-Atlanta trend of large-scale, mixed-use developments such as Alpharetta’s Avalon, Cobb’s The Battery and Forsyth’s Halcyon.
The first phase of the project, on the northern end of the site, will include 600 apartments and a mix of office and retail space. Construction fencing went up earlier this year, but it remains to be seen how the COVID-19 pandemic and its economic impact will change the timeline of the development.
At the same May 14 meeting, the Development Authority approved an agreement with Branch Properties for Perimeter Marketplace, a grocery-anchored project on Ashford-Dunwoody Road between Meadow Lane and Ashwood Parkway.
The $45 million bond issuance comes with a tax abatement estimated to be worth $2.3 million. The deal includes conditions: that the development be open by 2023 and create 225 jobs by year two, and 325 jobs in years three through 10.