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Council authorizes purchase-and-sale agreement for 11315 Lakefield Drive to advance town‑center options
Summary
The council authorized executing a purchase-and-sale agreement for a 5.75-acre parcel at 11315 Lakefield Drive for $5.6 million, with a 60-day due-diligence period and $56,000 earnest money, to support town-center implementation strategies.
The Johns Creek City Council authorized the mayor to sign a purchase-and-sale agreement for a 5.75-acre parcel at 11315 Lakefield Drive after staff said the acquisition would support town-center development options, including potential municipal land development or public–private partnerships.
Assistant City Manager Bennett presented the agreement and said the property, owned by Johns Creek Professional Plaza, sits near City Hall and Creekside Park and aligns with the town-center vision. Bennett summarized the business terms: a purchase price of $5,600,000, earnest money of $56,000, a 60-day due-diligence period for title, survey, appraisal and inspection, and a closing no later than Nov. 30, 2024, with the property to be conveyed by limited warranty deed.
Councilors said the acquisition increases options for a proposed performance hall and other town-center uses but does not commit the city to a specific project at this location. The council moved, seconded and approved authorization for the mayor to proceed, contingent on satisfactory due diligence.
Next steps: staff will complete due diligence and return to council with findings before closing; no project-level commitments were made at this meeting.
