ALPHARETTA, GA-Thomas Enterprises of Newnan, headed by longtime area developer Stan Thomas, has filed preliminary plans for one of the largest mixed-use ventures proposed locally in years--a $250-million, 1.3-million-sf campus here comprised of 759,000 sf of retail and restaurant space, a combined 527,000 sf of mid-rise office and hotel properties and 560 condominium units and townhomes.
Called the Forum at Alpharetta, the 65-acre, spec-built project could break ground this spring if the developer receives approvals from the city, the Atlanta Regional Commission and the Georgia Regional Transportation Authority, brokers familiar with undertaking tell GlobeSt.com. The project is expected to take two years to complete.
The project's development site, off GA 400 and Old Milton Parkway, would be one exit north of the 1.5-million-sf North Point Mall and near a new Cousins Properties Inc. planned project, the 145,000-sf Avenue Northpoint. Immediately adjacent to the Thomas project, developer Hal Barry of Atlanta-based Barry Real Estate Cos., plans to develop one million sf of office space on a 22-acre parcel at the corner of Old Milton Parkway and GA 400.
The North Fulton County site area was previously considered by two of the largest shopping center developers in the US--Taubman Cos. of Bloomfield Hills, MI and the Rouse Co. of Columbia, MD. Rouse had planned for Dallas-based Neiman-Marcus to anchor a mall off the McFarland Road exit on GA 400 in Forsyth County, north of Fulton County. Taubman had once planned to buy the 65 acres that Thomas Enterprises now owns, area industrial brokers familiar with the submarket's activities tell GlobeSt.com.
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