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ATLANTA-The Sembler Co. is considering asking DeKalb County officials for a property tax abatement on its $500-million Town Brookhaven development, the Atlanta Business Chronicle reports. The 600,000-square-foot mixed-use project occupies 52 acres along Peachtree Road near Oglethorpe University.

St. Petersburg, FL-based Sembler, a major retail developer in the Atlanta market, would seek a 100% abatement on the retail segment and part of the residential component. That would work out to about a 50% reduction of property taxes on the finished project, says Jeff Fuqua, president of Sembler’s Atlanta office.

Sembler, which currently pays $400,000 annual property tax on the Town Brookhaven site, could seek the abatement for up to 20 years. To read more from the Atlanta Business Chronicle, click here.

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