Growth: Southeast News

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May 21, 2021

 

The basics: The project known as “Campus 244” is slated for 244 Perimeter Center.

A redevelopment of a vacant headquarters in Dunwoody can become a destination for new companies, creating 1,800 jobs that pay an average of $85,000.

That projection comes from the City of Dunwoody and the development group, New York based The Georgetown Co. and its Atlanta affiliate, RocaPoint Partners.

They are planning a multi-million-dollar transformation of the former 13-acre Gold Kist headquarters, a property that for years had generated a lot of interest. Georgetown and Roca Point began designing the redevelopment last year. They purchased the property for about $42 million. Their estimate of jobs and salaries is contained in a new fiscal analysis of the project carried out by Georgia Tech.

Why it matters: Dunwoody is offering a 15-year, 68% annual tax abatement on the development. Similar incentives have been offered on major redevelopments in DeKalb County and sometimes they were withdrawn before the projects broke ground. DeKalb County and the DeKalb County School Board will use the new Georgia Tech study to inform their stance on the tax breaks to convert 244 Perimeter Center property into an adaptive reuse project. Both the county and school system depend on property tax revenues to fund operations. Economic development officials say some projects would be too cost prohibitive without the incentives, or developers would seek the same property tax breaks in another city.


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