Many in Peachtree Corners were thrilled to learn of the recent sale of The Forum on Peachtree Parkway to North American Properties (NAP), in partnership with Nuveen Real Estate. Having watched the 500,000-square-foot mix of retail, restaurants and office space flounder through the pandemic, residents are anxious to see what the new owners will bring to the property.
The developer is well-known to the affluent suburbs of North Atlanta with their mixed-use developments including Avalon and Avenue East Cobb.
“At The Forum, we see an opportunity to breathe new life into an overlooked property that’s still relevant enough to remain beloved by the community,” said Tim Perry, NAP managing partner. “With each property, we aim to position, or restore, them as the crown jewels of their respective markets.”
North American Properties recognized The Forum as having strong demographics and a high level of community engagement, but missing essential components that make it truly mixed-use.
NAP’s team will first meet with Peachtree Corners city leaders to see how they envision The Forum evolving, what programming they hope to see, and how the property can continue to tie together with the Town Center and existing trails. Before shovel hits the ground, expect NAP to next take those ideas, along with others, directly to the community for feedback.
The developer is proposing to expand public areas, enhance the common areas and remerchandise the retail collection. NAP will also weave its hospitality-driven management approach into the fabric of The Forum and surrounding area.
“We have an entire team whose jobs is to do nothing but hold events and connect with the community,” added Perry. “Those events will start very quickly, probably within the next couple of months.”
One of the very first things NAP learned is that the Forum is often where the families tailgate before a Norcross High School or Wesleyan game. Perry sees that as a perfect opportunity to connect with residents and enhance an existing event.
Physical changes -- new tenants, more outdoor patio dining and inevitable parking changes will take much longer as plans are approved, permits obtained and construction is put out for bid.
Whatever changes emerge, the developer hopes to be “finished” by the summer of 2023.
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