The city of Dunwoody announced Oct. 24 that it intends to purchase 42 acres of land on Peachtree Industrial Boulevard and demolish two apartment complexes to make way for a sports complex.
The City Council voted to allow the city manager to move forward with a letter of intent to buy the land for $19 million from Cortland Partners, LLC if the parks bond referendum is approved by voters in November. If the referendum fails, the city will be able to walk away without financial penalty, City Manager Warren Hutmacher said.
“This purchase identifies how over 75 percent of the bond funds will be spend in advance of the vote,” Hutmacher said. “That’s going to inform the voters of what they’re voting on.”
The move would displace residents in 785 apartment units, according to city officials.