Construction has begun on a 16-story office tower adjacent to the Dunwoody MARTA station, a project scheduled for completion in 2020.
Michael Starling, the city's director of economic development, said incentives worth $9.4 million were awarded for the building developed by Trammell Crow Company. The incentives are in the form of a tax abatement for 13 years and amount to a roughly 33 percent reduction in property taxes.
The incentives for the Twelve24 building will begin once the building is open to tenants. The only known occupant so far is Insight Global, a staffing company that will occupy 60 percent of the building.
Twelve24 is going up on 4 acres of land at the Perimeter Mall. In addition to office space, there is room for stores and restaurants on the ground floor.
Future plans include a 10-story hotel on the property.
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