Transformative Mixed-Use Project to Be Adjacent to City Hall

Roswell City Council approved a Letter of Intent (LIO) with Atlantic Companies during its Dec. 9 meeting for a new mixed-use development project that will transform the property adjacent to City Hall, driving economic growth while generating new revenue streams that will help keep property taxes low for residents.

The developer is planning to create a first-class, mixed-use development along Hill Street, located between Atlanta Street and Ellis Street. This project will encompass approximately 80,000 square feet of commercial space, including office, retail, and restaurant venues, along with a maximum of 143 multi-family apartments and 14 for-sale townhomes or brownstones.

The development, currently referred to as the Hill Street Mixed-Use Development, will also feature 485 parking spaces paid for by the City. These spaces will be available to both residents and visitors, enhancing accessibility and convenience in the downtown area.

Strategic Redesign for Community Benefit

The project builds upon an earlier 2019 multi-family development plan approved by City Council. After taking office in January 2022, Mayor Kurt Wilson led a renegotiation with the developer to secure a more beneficial outcome for the City. The new plan significantly expands the commercial footprint from 10,092 square feet to approximately 80,000 square feet and reduces the density of the apartments from 74 multi-family units/acre to 24 units/acre, creating a stronger economic driver for the community.

Key Project Features:

Commercial Space: Approximately 80,000 square feet for office, retail, and restaurant use.

Residential Units: A maximum of 143 multi-family apartments and 14 for-sale townhomes or brownstones.

Parking Facilities: 485 City-funded parking spaces, including 350 structured and 135 surface spaces, supporting both the development and broader downtown parking needs.

To ensure timely economic activation, commercial spaces along Hill Street and Atlanta Street must be constructed and occupied before any residential units are completed.

New Revenue Streams for Roswell

The City’s innovative agreement secures several revenue-generating mechanisms:

Lease Payments: The developer will enter a long-term lease with the City based on the appraised land value of $8.39 million, with an 8% rent factor applied after adjustments for townhome sales.

Participation in Success: The City will share in the project’s future revenue from property sales, refinancing, and percentage rent payments.

Parking Revenue: The City or Downtown Development Authority (DDA) will own and operate the 485 parking spaces.

Property Tax Payments: The developer will make Payment in Lieu of Taxes (PILOT) for City-owned properties leased within the development, while multi-family and townhome units will pay full property taxes.

Public Purpose Payments: Upon substantial completion of the project, an additional $400,000 will be paid by the developer to the City for enhancements in the project area.

A Vision for the Future

Mayor Kurt Wilson emphasized the City’s commitment to balancing development with fiscal responsibility:

“Our administration’s priority has always been creating opportunities for economic development while keeping taxes low for Roswell’s residents. This innovative development project will generate new revenue streams while revitalizing a key downtown area, making Roswell an even better place to live, work, and visit.”

The Hill Street Mixed-Use Development reflects Roswell’s vision for sustainable growth, strategic investments, and long-term prosperity. The City looks forward to sharing more updates as the project advances.