The City of Douglasville has selected a developer for its Town Green project.
Mill Creek Residential was chosen after a rigorous selection process to bring a comprehensive development to the area surrounding the new Town Green and Amphitheater, Douglasville Community Relations Director Jason Post said in a release.
The city directed the Elevate Douglas Economic Partnership to issue an RFP for a master developer to bring a project to the new town center, Post said. The RFP was sent via multiple media outlets, trade associations, direct solicitations, and social media platforms. The respondents were given three months to complete their proposals with all information on the project accessible via a dedicated website.
To assist with the selection process, Post said Elevate Douglas hired KB Advisory Group to work with staff on creating the RFP and sought input from the development community on its format.
The chosen developer has a great track record of creating high-quality developments that have achieved great success in metro Atlanta, Post said.
He added that the developer is eager to work alongside the city to achieve a mutually beneficial development that the community would be proud to have and be the perfect complement to our Town Green development.
“Douglasville has some real tailwinds of economic development and is sincere about tapping into the potential of their downtown area,” said Pat Chesser, managing director of Mill Creek Residential-Atlanta. “We are excited to be a part of it and develop a project complementary to the city’s Town Green.”
Post said the project will be a mixed-use residential and commercial development with luxury apartments interspersed with retail shops and restaurants making it a true “live, work, and play” development in downtown Douglasville.
The benefits of this project are numerous, Post said.
He said the city itself stands to receive a cash payment for the land. The development will also add to the city’s growing Tax Allocation District (TAD) revenues, Post said. This will allow the city to continue its efforts in fulfilling the 10-year strategic plan for the downtown area and assist in repaying the cost of the Town Green.
“This will be a transformative project for our downtown,” explained Chris Pumphrey, president of Elevate Douglas Economic Partnership. “It will be the perfect complement to our Town Green investment, delivering a mixture of upscale apartments and retail operations.”
The city and Mill Creek agreed to terms on a memorandum of understanding which outlines the commitments of the developer and the city, Post said.
The developer will make an escrow deposit and be given a due diligence period to complete a market study, do design work, obtain construction cost estimates, and confirm the financial feasibility of the project, Post said. If the developer then decides to move forward, the financial terms will be finalized, and the sale will take place after required zoning approvals and permits are issued by the city.
Post said the sale could occur late this year or in early 2022, with construction starting in the spring of next year.
“We are so enthusiastic about what the developer has shown us for this project,” said Mayor Rochelle Robinson. “Bringing the Town Green to our downtown has been a huge goal of mine for the past few years and I am so happy that we are starting to see this project come to fruition. It is a great time to be in the City of Douglasville and I’m looking forward to seeing how the development of our Town Green will bring economic prosperity to our City.”
For more information regarding the Downtown Master Plan, including information on the Amphitheater and Town Green, please visit www.douglasvillega.gov.