The redevelopment site is on the former Johnny Walker Homes public housing project. The project would be partly funded by the tax allocation district approved last year. Marietta's district could use $20 million in bonds to be paid off by 2033, city officials confirm to GlobeSt.com. The developer wants $10 million in tax district funding.
The Marietta Redevelopment Corp., which forwarded the Peter Drey group plan to the city for review, liked the group's proposal because its plans called for a grocery store. If the city's redevelopment corporation can't cut a deal with Peter Drey, it will approach the second-ranked developer, Batson-Cook Development Cop. Of West Point Ga. Also waiting in the wings if Batson-Cook is eliminated, is Quintus/Taylor & Mathis based in nearby Cobb County.
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