That is how Chris Pumphrey, executive director of the Development Authority of Douglas County, described the $195 million Foxhall project, which could have its groundbreaking next year.
In addition, the initial phase of the development includes infrastructure such as new and improved streets and sewers which would allow future planned growth throughout the corridor.
Pumphrey said the total cost of the Foxhall project will be $195 million, with private investment covering $160 million of that.
“The remaining $35 million will be paid through the issuance of bonds by the Development Authority of Douglas County,” he said.
It also would cost taxpayers nothing, Pumphrey said.
“The Development Authority of Douglas County will issue industrial revenue bonds, as county participation is an important aspect to leverage outside private investment,” he said.
Payment of the bonds would be made through the various taxes that would be generated through the Foxhall development, Pumphrey said.
“Those tax receipts, we expect, will more than cover repayment,” he said.
The basis for the entire project, he said, was the area’s close proximity to Hartsfield-Jackson Atlanta International Airport.
Once completed, the Foxhall project should serve as what Pumphrey called a “launching pad” for future development in southeast Douglas County.
“Our vision is that this future development would include corporate parks, retail businesses, which the county has zoned for in the area, and even institutions of higher education,” he said. “Our purpose is to enhance the tax digest and bring in quality jobs and investment throughout the Capps Ferry [Road] corridor.”
The Foxhall development alone could foster 470 additional jobs, he said.
“The entire scope of the Capps Ferry project, and the type businesses and corporations we want to bring in, could eventually mean thousands of new jobs,” Pumphrey said.