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DDA: multifamily bond-lease agreement signed; retail partner still finalizing plans
Summary
Board members said the multifamily portion of the bond-lease has been signed by all parties while retail terms remain under negotiation; the retail partner will publish a development schedule once terms are set and a special meeting may be needed to finalize retail approvals.
The Chamblee Downtown Development Authority on March 24 reported that the multifamily part of a bond-lease agreement has been "agreed by all parties," while the retail portion remains under negotiation.
The Chair told board members the multifamily piece is signed and that the retail portion has 'a couple of small things' still to be worked out. A committee member asked about the developer's schedule; board members said the retail partner is keeping details private and that the developer will release a new schedule once retail terms are settled. The Chair said the board may need a special-called meeting soon if the retail portion is completed to avoid additional delays.
Board members stressed uncertainty about tenants and timetables for retail; the Chair acknowledged there will be more building activity before retail partnerships are finalized and cautioned that specific store names (e.g., requests for particular chains) should not be presumed.
The multifamily milestone was presented as a positive step in advancing downtown redevelopment; the board said it will circulate a development schedule to members when available and consider a special meeting to approve retail-related documents.
