Plans for a $40 million mixed-use project in downtown Decatur are underway. Carter, an Atlanta developer, hopes to attract younger resident and new employers once the project is complete. The project will include more than 200 high-end apartments.
Carter currently owns about 2.5 acres on West Ponce De Leon Avenue. This land will soon house about 240 apartment units and 10,000 square feet of retail.
The new project will be built around already existing Decatur Court. The office building was recently purchased by affiliates of Weaver and Woodbery and Redstone Investments for nearly $9 million.
Decatur, which has been called one of Georgia’s most livable cities, is known for its mix of popular restaurants and boutiques.
The city recently renewed its effort to add new apartments. No new units have been added since the completion of Ice House Lofts in 1999.
Last month Decatur’s Assistant City Manager Lyn Menne optimistically shared news about the new projects with Atlanta Business Chronicle.
“We do have a lot of interest in downtown right now, said Menne. “We definitely have projects that were approved in the past, right before the economy tanked, that we are beginning to see come back.”
Other developers such as Cousins Properties Inc. are also considering developing sites in downtown Decatur.
According to a study done by Affordable Housing, the city’s One Callaway Square is one of the top development opportunities. The site is located near Decatur High School, at North McDonough Street and West Trinity Place.
There is also a possibility for a new mixed-use redevelopment “Trinity Triangle” located at East Trinity Place and East Howard Avenue. There were plans for development back in 2007 but they fell apart.