Peachtree Corners Purchases Land Adjacent to Town Center
Friday, December 22nd, 2017
The City Council announced at its recent meeting that it had entered into a contract to purchase a tract of land that borders the Town Center.
Purchasing the 5.762-acre property, located along Medlock Bridge Road and Peachtree Corners Circle, will allow the city to control how this valuable piece of real estate is developed. The purchase price was $6.9 million.
“We are pleased that the city had the chance to purchase this land,” said Mayor Mike Mason. “We recognized the benefit of acquiring the property when it became available and knew this was an opportunity we could not pass up because it would never come again.”
The additional acreage abuts the 21-acre Town Center site currently under construction. A small portion of the acreage will be needed for the traffic roundabout which is planned for the intersection of Medlock Bridge Road and Peachtree Corners Circle, but the city has no specific plans for the remaining acreage at this time.
The Town Center, designed to be a center piece for the 5-year-old city, will feature entertainment venues, restaurants, shops, office space, townhomes and a 2+ acre Town Green.
The Town Green will feature an open-air pavilion, amphitheater, fire pit, open lawn, café tables and a community garden. It will also be the site of a veterans’ monument which will honor all who served or are serving in the U.S. Armed Forces. The 21-acre site is expected to be complete by December 2018.
“The purchase of this land is a big step for our city, and we give our mayor and council credit for taking the initiative to purchase the property,” said City Manager, Brian Johnson.