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ATLANTA-The planned 27-acre, $70 million North Fulton Centre for the Arts is near its $4 million, land-purchase goal after Fulton County and Alpharetta each pledge $2 million for the venture in Alpharetta, 27 miles north of Downtown Atlanta.

The deadline for buying the land is Dec. 31, area industrial brokers following the project tell GlobeSt.com. The price equals $148,148 per acre, or about an average $3.40 per sf.

The long-discussed project would be built within Cousins Properties Inc.’s proposed $291 million, 220-acre mixed-use development near North Point Mall on the west side of GA 400, county staffers confirm to GlobeSt.com. Two sides of the arts center would border Roswell. The Fulton County Arts Council has asked the private sector and local government entities for funding help.

Roswell, which has an existing 600-seat Cultural Arts Center, has offered land instead of cash to the Fulton County project. The site is three miles from the Alpharetta location, brokers tell GlobeSt.com.

However, North Fulton Chamber of Commerce officials say that strategy would split the Centre for the Arts into two locations, a move they don’t support.

Fulton County staffers tell GlobeSt.com the North Fulton project would include a 12,000-seat amphitheater, 2,000-seat performance hall, 300-seat smaller theater and visual art galleries.

Area brokers following the project tell GlobeSt.com they suspect Roswell’s land offer may be part of the rivalry it has with Alpharetta. Roswell’s permanent population totals 80,000; Alpharetta has 36,000 residents.

Cousins’ project comes up for rezoning before the Alpharetta city council Aug. 25.

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