Groundbreaking Set for Moores Mill M-U Project in Atlanta
- Feb 29, 2016
By Robert Demeter, Associate Editor
Atlanta–Retail real estate owner and developer EDENS recently announced that the $95 million Moores Mill mixed-use project in Atlanta will break ground in early March. EDENS started working on the project back in 2005, but it was delayed several times, only to see the light of day this year.
The 70,000-square-foot development located on Moores Mill Road at Marietta Boulevard will be anchored by a 45,600-square-foot Publix supermarket set to open in June 2017. Additionally, the project will include 25,000 square feet of retail and restaurant space, a coffee shop, and 345 apartment units.
The retail component will cost rouhgly $40 million to develop, while the residential component will cost approximately $55 million and will open six to eight months after the debut of the Publix store.
“We’re very, very excited to be at this point and I cannot thank all of you enough for your patience,” Herbert Ames, EDENS vice president for the Southeast region, said in prepared remarks.
The developer has agreed to build a 900-foot-long road extension for Moores Mill Road to improve access to the development, expanding Marietta Boulevard. The Atlanta City Council approved legislation in November 2015 that authorized the use of about $800,000 collected in impact fees to pay for the road’s extension. Atlanta’s Department of Public Works is to oversee the project, to ensure the work meets city standards. The project is also expected to trigger new development in the area.
EDENS develops, owns and operates community shopping centers in primary markets across the country. Focusing on innovative development and redevelopment, together with key acquisitions in urban areas, the company has built a portfolio of more than 120 retail centers.
Rendering courtesy of BuckheadView