The builder planning to transform a Sandy Springs plaza into mixed-use development was pressed by residents on housing affordability during its first community meeting Monday.
Representatives of the project fielded questions from nearly 80 residents crowded into an office building lobby across from the proposed site, with even more residents attending virtually.
Stream Realty Partners plans to redevelop North River Shopping Center in Sandy Springs’ North End with completion in four to five years. Designs include 81 townhomes, 242 apartment units in five-story buildings, with plans for more commercial businesses on the 13-acre site.
Stream Realty will be the first builder to apply for new zoning that allows for wood construction of apartments up to five stories in the North End. Apartment building height could go to six stories if 10% of the units were affordable housing. Sandy Springs approved the new North End zoning in December 2021 to make redevelopment more financially viable for developers.
Sandy Springs officials have worked to draw mixed-use redevelopment at four shopping centers in the North End including North River Shopping Center.
The plaza is located near the Roswell Road bridge to the city of Roswell and pedestrian paths along the Chattahoochee River. The project completion could coincide with Sandy Springs and Roswell plans to remodel the bridge and create multi-use paths leading into Roswell, as well as east and west along the river.
Adrianne Murchison
Adrianne Murchison
The North River project would give the North End neighborhood of luxury homes, aged apartments and minimal retail a boost desired by city officials and residents. During Monday’s meeting, Stream Realty heard disparaging views on the blocks of local discount retail shops and fast food restaurants, and fielded questions on the affordability of the housing that would be built.
Ben Hautt, a partner with the development firm, said the residential portion of the project would be built by Empire Communities. The apartments will appear similar to multifamily communities located at the City Springs campus.
At today’s real estate prices, Stream Realty estimates the townhomes would be priced at least $400,000 and apartment units at $2 per square foot (or $1,800 for a 900 square-foot apartment).
Apartments at City Springs are priced at more than $2,000.
Melanie Couchman, co-founder of Sandy Springs Together, a nonprofit focused on affordable workforce housing, told Hautt that the price of the forthcoming apartments would set the standard for future building in the North End.
“What would it take for you to be open to affordable units,” she said. “...There are some (residents) that are concerned.”
Resident Renee Hoelting was critical saying she did not believe the developer is taking affordability into consideration.
“The city is giving you an advantage of putting up a wood structure…You’re telling us you can’t promise us anything but market rate. Why should we give you an advantage if you cannot provide some affordable housing, at least 10 percent,” Hoelting asked.
Jessica Hill, the attorney representing Stream Realty, said Sandy Springs created the new zoning to attract for-sale housing, not affordable housing. “There’s not an affordable requirement with it. There’s a requirement that there be these 81 townhomes and that’s the priority,” Hill said.
Stream Realty plans to hold a second community meeting at City Hall on Jan. 30.
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