Peachtree Corners Closes on Property Across The Forum

Editor's note: Bill Johnson is the Public Information Officer for the City of Peachtree Corners.

Peachtree Corners city officials took an important step toward fulfilling their promise to protect the quality of life and safeguard property values in the city Monday by  closing on the purchase of a 20.6 acre tract of land across from The Forum on Peachtree Parkway.

City officials voted unanimously earlier this year to purchase what has become known as the Robert Property. 

A developer had planned to build a 250-acre apartment complex on the site that was out of character with the surrounding area.

"Today's purchase represents a win-win situation for the city," Mason said. "The city has stopped the development of an apartment complex that just doesn't belong in the middle of that commercial area and purchased a property that can only increase in value."

Mason added that his only regret is there wasn't enough time to hold public hearings on the issue. "This in no way sets a precedent for city council," he said. "I wish there had been more time to gather citizen input, but in this one instance, we had to take immediate action, otherwise, the construction of an unwanted 250-apartment complex would already be underway."

Council members say this was a quality of life issue because the city is close to a 50/50 split in rental property versus owner-occupied homes.

"Council feels it is our duty to keep the community’s housing balanced in order to protect property values," Mason said.

The sale price was $11.5 million.

See also:

• Developer Explains Why He Backed out of Purchasing Land Across The Forum
• Mixed-Use Development to Be Built Across The Forum
• Developer Backs out on Buying Land Across The Forum; City of Peachtree Corners to Purchase Lot
• Peachtree Corners Mayor Weighs in on Proposed Development Across From The Forum