The Dunwoody Development Authority has approved a roughly $23 million tax break for a redevelopment of the former Gold Kist Headquarters in Dunwoody’s Perimeter Center.
Buckhead-based RocaPoint Partners and New York-based The Georgetown Company purchased the nearly 13-acre property at 244 Perimeter Center Parkway last year. Before the purchase, the property had sat vacant for quite some time, but the developers have plans to turn it into a complex with a hotel, office space, and multiple restaurants.
At its Aug. 23 meeting, the authority approved an inducement resolution for the development – called Campus 244 – which allows the authority to begin working on drafting a resolution to issue bonds. Authority attorney Dan McRae said the development would receive the tax break over 10 years.
According to the inducement resolution, the project will be built over two phases, but the bonds will be issued in three series. The first series is for Phase 1 of the project and should not exceed $202 million. The second series is for a parking structure and should not exceed $34 million. The third series is for Phase 2 of the project and should not exceed $110 million.
Benton Blaine, a representative for the project, said they hope to start construction on Phase 1 of the project as soon as possible. However, he said, the city won’t see anything “operational” until early 2023.
The authority is expected to look at the project again at its next meeting.