The development represents a $110 million dollar investment in East Atlanta.

ATLANTA -- The Atlanta City Council unanimously approved Item # 02-O-2176 during its regularly scheduled meeting on Monday, April 21, 2003.

This Ordinance (which came to the council from the zoning committee, favorable on substitute as amended on condition) rezones land located at 1219 Caroline Street, NE (The old Atlanta Gas & Light facility) near Little Five Points.

The Sembler Co. (developer) has announced plans to build a development comprising of national retailers, affordable housing, restaurants and shops. The project would create nearly 1,600 jobs, mainly retail.

The proposed development lies in City Council District 5.

"We have met with more than 70 community groups and neighborhood organizations that will be impacted by this development," said Councilwoman Natalyn Archibong, who represents the District. "All sides are very pleased with the commitment the developer has made to preserving the quality of life in the East Atlanta. We also welcome this development to our community and the financial impact it will have on our city as whole."

• Property (the old Atlanta Gas & Light site) had been zoned I-2 and I-1C. This zoning did not permit residential use. The current zoning permits 3.6 million square feet of development.
• Now (after City Council approval) the zoning is C-3 Conditional. Conditioned on a maximum of 590,500 SF of retail development and approximately 300 residential units. A mixed use, neighborhood scale development with street front retail on Caroline St. and Moreland Ave. is proposed.
• The project proposes to preserve and reuse the existing shoe factory building as residential lofts.
• Sembler has invested over $100,000 in traffic studies with GRTA, ARC, the surrounding neighborhoods and the City of Atlanta to analyze the traffic impact of the proposed development.
• Sembler has also agreed to spend up to $500,000 in traffic calming implementation in the Edgewood and Reynoldstown neighborhoods and $100,000 in traffic calming in the Candler Park and Inman Park neighborhoods.
• The project proposes 2 acres of park space within the development and The Sembler Company has agreed to donate $200,000 to Edgewood to purchase a park within the Edgewood neighborhood to provide additional green space.
• The 300 residential units will be comprised of multifamily (80units, 50% affordable), lofts (45 units to be converted from the Shoe Factory), senior housing (135 units, 75% affordable), task force owner occupied housing, and live-work housing over the retail shops along the south side of Caroline Street.
• In addition, the developer has agreed to provide a shuttle to connect two MARTA stations within ¼ mile of the site, Little Five Points, East Atlanta Business District, the Carter Center and the Edgewood Retail district.
• The development represents a $110+ million dollar investment in East Atlanta.
• The development will pay an additional $1.5 million a year in property taxes to the City and it will generate an estimated $8.6 million a year in sales tax revenue.
• The project is projected to generate nearly 1,600 jobs

The development will be located just south of Little Five Points, facing Moreland Avenue in the Edgewood community.

email: paula@laughingsunrenovations.com