At a special called meeting earlier today, the city council voted to approve a transfer of land along Old National Highway to the city’s development authority as the site of a proposed mixed-use development that would represent an investment of more than $350 million and include retail and office space as well as a hotel.
The two undeveloped parcels transferred together make up about 64 acres of the park site. The agreement placed ownership of the land in the hands of the South Fulton Development Authority. The planned development would have no impact on the park or recreation services. It is anticipated that it would provide a major economic boost to the area and the city.
“This project would not interfere with the programming residents enjoy at Old National Park,” said Mayor Pro Tem Mark Baker, who serves as chairman of the development authority. “It would encourage economic development, promote diversity among local business options and expand convention and travel opportunities for the city.”
Baker identified the proposed hotel as a Hyatt Place. The project now must flow through the city’s planning, zoning and permitting processes – including public forums – over the next one to two years. The resolution requires construction to start on the project within three years and be complete within six years.