The Dunwoody Development Authority has agreed to issue a roughly $23 million tax break to a redevelopment of the former Gold Kist Headquarters in Dunwoody’s Perimeter Center.
“We are very excited about this project,” said Development Authority Chair Jonathan Sangster at a Sept. 23 meeting. “I think it’s transformational, especially for a place that has been vacant for many, many years.”
Buckhead-based RocaPoint Partners and New York-based The Georgetown Company purchased the nearly 13-acre property at 244 Perimeter Center Parkway last year. Before the purchase, the property had sat vacant for quite some time, but the developers have plans to turn it into a complex with a hotel, office space, and multiple restaurants. The project is called Campus 244.
At its Sept. 23 meeting, the authority approved a Memorandum of Understanding for the development, which begins the process of issuing funds. The authority previously approved an inducement resolution for the development at an Aug. 23 meeting. The project will receive the tax break over 10 years.
According to the authority attorney Dan McRae, the investment goal for the project is $270 million and the hope is to create 1,800 jobs. There was some discussion about whether jobs that relocate from different buildings in the city should count towards that job number, but the authority eventually agreed these jobs would have to be brand new to Dunwoody.
“If all of a sudden, [the developer] has a tenant who is looking to relocate within the city of Dunwoody, then we address it at that time,” Sangster said.
Patrick Leonard of RocaPoint Partners said they are making good progress on the development. He did not reveal any business names, but said there has been interest from restaurants and office tenants for the space.
“We are working with a couple of very large tenants now on the office side. We just have not actually signed a deal yet,” Leonard said. “I think our offering is unique enough where we are getting a fair amount of interest.”
Leonard said the goal is to start construction on the first phase of the project in early 2022 and to have occupancy by the middle of 2023.
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September 24, 2021 at 10:20PM
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Dunwoody Development Authority moves forward with $23 million tax break for Campus 244 - Reporter Newspapers
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