A Texas developer’s more detailed plan for the $500 million redevelopment of North Point Mall was met with approval from the Alpharetta Planning Commission last week.
The commission approved the mixed-use project with conditions that include fewer rental units and more dwellings for sale than developer Trademark Property Company wants to build. Trademark CEO Terry Montesi described the mall property as distressed and said increased residential is necessary to draw more population to the North Point district.
“... I’m still coming back to the fact what’s best for our city ... is more of a balance of residential and not something that is so heavily weighted on a multifamily component,” commission member Karen Richard, said. “... I think for developments to be successful you want to have folks that are vested in it and not just a transient component ...”
Trademark’s new presentation was largely embraced by officials. In a July meeting, commission members were critical of the developer’s plans to transform the 83-acre site saying some parts did not fit with the city’s character.
Trademark plans to demolish 464,000 square feet of the existing mall space located off Haynes Bridge and Mansell Roads and build nearly 316,000 square feet of new retail, restaurant and creative office space that includes 19 acres of green space. Montesi said the property would have a village atmosphere with different types of casual open areas allowing for a seamless flow of movement going inside and outside the remodeled mall.
The Planning Commission unanimously voted to send a recommendation of approval to City Council for rezoning, conditional use and necessary changes in the master plan for the project. The redevelopment plan will be presented to City Council during a regular meeting on Aug. 15.
New York Life owns most of North Point Mall and tapped Trademark to manage the property in January 2021.
During the Planning Commission meeting, Montesi presented a display of renderings and visuals showing the mall property reconstructed into live, work, shop and play spaces. The presentation included images of Trademark’s transformative projects similar to the Alpharetta mall including Victory Park in Dallas, Texas.
Trademark’s original plan for the residential component of the new North Point Mall was 900 rental units and 36 townhomes. Alpharetta staff and the Planning Commission recommended the project on the condition that 650 rental units be built in two phases. The first phase would be 320 units in which occupancy would not be allowed until non-residential parts of the project are completed.
Occupancy for the remaining 330 rental units constructed in the second phase would not be allowed until a grocery store is constructed either on the property or within 500 feet.
The commission’s recommendation increases the number of residential units for sale to 286. Ten percent of those units could be rented.
The developers said residences are expected to draw young singles, as well as empty nesters.
Jeff Johnson, Trademark’s senior vice president of development, said North Point Mall needs less retail space and more residential. The company’s research showed that the number and frequency of visitors to North Point is much less than Perimeter Mall, Avalon and Halcyon, he said.
“...It’s a concern in some respects because this district needs more density,” Johnson said. “It needs more population.”
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