North American Properties, a real estate operating company headquartered in Cincinnati, OH, broke ground this week on Avalon, an 86-acre mixed-use project in Alpharetta, GA. The $600 million retail, entertainment, residential, hotel and office space
development is scheduled to deliver on Aug. 22, 2014.
NAP said the project will bring 4,500 jobs, generate $21 million in annual sales tax revenue, $4.5 million annually in new property taxes (approximately 16 percent to the city) and $1.1 million annually in hotel taxes for Alpharetta.
The developer has secured 34 retail and restaurant leases since winning zoning approval from the city council in April of last year. Tenants will include Pinkberry, lululemon, Mitchell Gold + Bob Williams, L’Occitane, Gap and White House Black Market in addition to previously announced retailers like Regal Cinemas, Whole Foods, Anthropologie, Ted’s Montana Grill, Athleta, Arhaus, Paper Source and Banana Republic.
Wakefield Beasley is the principal architect and Site Solutions is the landscape architect. Hoar Construction was selected as the project’s general contractor. NAP partnered with Monte Hewett Homes to build 101 luxury houses and townhomes in a community designed by Lew Oliver Inc. Greenstone Properties was hired to lease the office lofts.
Parking will be located around the building perimeters while pedestrian paths will connect all parts of the development. NAP said Avalon will be the first all-fiber community built in the Southeast.