The Marietta City Council voted recently to sell nearly 28 acres to Marietta LB for $9.25 million.
Bought by the city in August 2015, this site at 1019 Franklin Gateway, is the former Marquis Place apartment complex. This property is across the street from the city’s new Sports Complex with three multi-purpose fields at 1034 Franklin Road on 13.5 acres.
In November 2013, Marietta voters approved the $68 million bond referendum of which $64 million is dedicated for the redevelopment of the Franklin Gateway Redevelopment Area.
The program includes the privatization and/or sale of properties for the development of new residential, commercial retail, office or light industrial development, infrastructure improvements and new roadway construction, according to Marietta’s Gateway Community Improvement District (CID).
The goal is to revitalize this area with the creation of new jobs, offering a safe, livable environment and a strong economy.
In December 2013, Marietta bought the first two deteriorated apartment complexes - Woodlands Park and Flagstone Village. Then in June 2015, demolition began of both complexes to market the sites as commercial properties. Also, the former Preston Chase apartment complex on the west side of Franklin Gateway was bought by the city.
Information: GatewayMariettaCID.org.
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