Dunwoody City Council approved a deal during its meeting June 11 with John Wieland Homes and Neighborhoods, charged with bringing the revitalization initiative targeting the Georgetown area to fruition.
“I have no doubt that there’s some risk here — I know that. We all know that,” said District 1 Councilman Denis Shortal. “This isn’t a set deal where you say, ‘Wow, this is the best thing I’ve ever seen,’ but I think it is good for our city … we’ve got a quality builder and quality construction.”
Renaissance aims to develop 35 acres of land on North Shallowford Road — the city’s 16-acre PVC farm and the 19-acre former Emory Hospital site — into residential properties.
The aforementioned development deal is rife with construction logistics deemed satisfactory by Dunwoody officials, down to the prohibited use of non-durable materials in the exteriors of the residential units.
The number of units to be built is presently capped at 125.
“It’s all subject to zoning,” Dunwoody City Manager Warren Hutmacher said. “If the land plans somehow allow for more units and council approves it they can build more.”
Dunwoody is also expected to gain roughly 30,000-square-feet in commercial space, a couple of small parks, and, possibly, a larger path from the partially developed tract in Georgetown all the way to Brook Run as part of the endeavor.
“The risk is John Wieland disappears off the face of the earth, so you’d say the downside risk is $6.3 million,” Shortal said. “But, as has been pointed out, we can probably get $4.5 million on a fire sale. I think the upside potential here outweighs that risk and, therefore, I’m in favor of [Project Renaissance].”