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Economic Development

Posted on: August 21, 2015

For Most Gwinnett Cities Building Is Beginning Again-See What One Sister City Is Doing!

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In $46M project, Suwanee to extend Town Center, add high-end apartments

By Keith Farner
Gwinnett Daily Post

Suwanee officials on Wednesday announced the plans to redevelop a 3.5-acre area that would include a five-story structure and a parking garage, which would include about 520 structured public and private parking spaces.

More than 200 high-end apartments — with monthly rent above $1,500 — are coming to Suwanee by 2018 as part of a $46 million project that will expand Town Center and bring 10,000 square feet of mixed-use space to Buford Highway.

City officials on Wednesday announced the plans to redevelop a 3.5-acre area along Chicago Street that would include a five-story structure and a parking garage, which would include about 520 structured public and private parking spaces.

Suwanee’s Downtown Development Authority and an Atlanta developer, Terwilliger-Pappas, which was selected over two other proposals, have executed a letter of intent and are negotiating details on the project, city officials said.

Under the terms of the letter of intent, Suwanee’s DDA would receive $600,000 in cash for the property plus ownership of the 10,000 square feet of commercial/retail space. The 3.5-acre property being purchased by Terwilliger-Pappas was acquired by the city of Suwanee for $497,000.

Construction on the project will likely begin in late 2016 and take at least 20 months to complete. A rezoning of the industrial-use property is expected to be considered by City Council later this month or in September.

The 235 apartments will be primarily one- and two-bedrooms residences and marketed to appeal to millennials and empty-nesters. Average rent for those apartments is expected to be $1,568. The apartments will be constructed to allow for possible future conversion to condominiums.

City Manager Marty Allen said in a press release that the city has a proven track record with its plans and visions for city planning that dates to 2002. Town Center was developed from 2003-09. This project also addresses several goals of the city’s “20/20 Vision” strategic plan, Allen said.

“People are always asking when we’re going to extend Town Center,” Allen said. “We’re confident that this project will add depth and energy that not only physically extends Town Center, but also further enhances the Town Center experience.”

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