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Sandy Springs midyear economic development update: Mercedes expansion, 1,700+ rental units in pipeline
Summary
Director Chris Burnett briefed council on corporate recruitment wins and a development pipeline that could add about 1,700 multifamily rental units and roughly 200 for‑sale units over the next three to five years.
Chris Burnett, the city’s director of economic development, told the City Council Tuesday night the department’s midyear report shows strong corporate retention and a multi‑year pipeline of housing projects.
Burnett highlighted corporate moves including Mercedes‑Benz’s continued consolidation of North American offices to Sandy Springs and other leases that have stabilized the office market. He said the 25 largest companies headquartered in Sandy Springs generate roughly $262 billion in combined revenue and characterized the city as an attractive market for employers.
On the real‑estate pipeline, Burnett said projects in various stages could deliver roughly 1,700 traditional multifamily rental units and about 200 condominiums and for‑sale townhomes over the next three to five years. He listed current or proposed projects including the Hillcrest mixed‑use development (362 units, discussed separately), a 36‑unit for‑sale project on Cliffwood (the Gregory), the VO project (17 for‑sale units), the Fairfield Wayfern project (273 multifamily units plus 104 rental townhomes), and several other multifamily and mixed‑use proposals across the city.
Burnett said developers’ primary interest remains multifamily and mixed‑use projects, driven by demand for “rooftops” to support restaurants and retailers. He noted capital markets and construction costs (especially concrete/steel projects) remain a constraint but that the cost environment and policy steps taken by the city have renewed developer interest. “With construction cost changing and a reasonable cost of construction in some sectors, developers want to be here again,” Burnett said.
Councilmembers asked about for‑sale housing; Burnett and other council members said converting portions of large market‑rate projects to for‑sale housing is difficult given institutional investors’ long‑term cash‑flow goals and the financing complexity of mixing for‑sale product in large rental developments. Councilmember Jody Rochelle and others urged continued city efforts, and Burnett said a citywide housing study is budgeted for 2026 to evaluate policies that could encourage more owner‑occupied housing.
Burnett concluded by summarizing the city’s recent leasing wins, outreach to large employers, marketing efforts, and an intention to continue foundational work with developers and the Sandy Springs Development Authority to pursue redevelopment opportunities.
The council did not take a vote on the update; it was an informational presentation.
