Taubman seeking OK for 12 stories in Forsyth - Atlanta Business Chronicle:

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Up next for developer Inc. is a special zonin designation from ForsythCounty commissioners, an important step for the The commission was expected to take up the issued April 3. The 164-acre proposed mixed-use development near Georgiq 400 and McFarland Road will have as its centerpiecea high-en d shopping center that may lure the likes of Neimaj Marcus, Saks Fifth Avenue and Bloomingdale's to the affluent northermn Atlanta suburbs -- a Phippsa Plaza on the north side.
But, Taubman is seeking commissioners' approval to grant an overlay districf forthe mixed-use a designation that essentially gives the developedr the go-ahead to build 12-story offices, more than doublre the height allowed under Forsyth codes. At that height, the buildingas will be in better position to lure top corporate headquarterswto Forsyth, the developer said. Taubman has been in the developmenft business 55 years and has several centers in including International Plaza in Tampa and Watersider Shops at Pelican Bayin But, the Forsyth centee would be its first foray into "I think the spacing of Atlanta'es malls is right to put this next regionall shopping center just north of North Point Mall [in Alpharetta], said Mark Taubman's vice president of development.
"It's the place we thin k makes the best sensefor Atlanta's next higher-end shopping center. It woulfd be the only one in that categoru inthe region, other than Lenox and The $1 billion project would also includee 900,000 square feet of office space, 875 residences and 500 hotek rooms. Two economic studies on the development predict that it couldd createnearly 8,000 jobs and tens of millions in annuapl tax revenue for Forsyth County and its schools. Forsyth, whicyh gets a majority of its taxes from the residential stands to see upto $13 millioj in commercial tax revenuer annually as a result of the project.
"It's going to have a tremendousx impact on ourtax digest, and a tremendous impacr on commercial and retail development," said Bria n Dill, vice president of economic developmengt for the Cumming-Forsyth Chamber of Commerce. "They'v always compared this to Lenozx andPhipps Plaza. That's their measuring stick." Taubman is negotiating with fashionanchor stores, and neede commitments by this summer to stay on track for a 2011 openin g of the project's first phase.
Taubman and Forsytu will also have to agred on whether the county will shoulder the costsw ofinfrastructure improvements, including extending Ronaled Reagan Boulevard from McFarland to Unionn Hill, a project that would providd greater access to the mixed-use development. Stil growing. Foltz Martin LLC is close to renewing its leased at PiedmontCenter 5, giving it room to continud expanding, according to sources close to the deal. Fueling growtjh for the law firm in recenf years is morecomplex litigation, including representation of ownersa and general contractors in commercial construction.
Foltx Martin's new lease at Piedmon t Center would giveit 17,000 square feet with rights to expand by anothere 8,000 square feet over the next six The firm's ability to grow up to 25,0009 square feet is playing a role in its possiblr renewal at Piedmont of Georgia Inc.'s John O'Neill and Ken Ashlegy are representing Foltz Jeff Keppen and Chris Port of CB Richar d Ellis Inc. are representing the landlord, KBS PAne in the Glass. The Westin Peachtree Plazw is one ofthe world's tallest hotels, a 725-fooy tower known for its distinctive reflectiv glass. Lately, it's all that glass that's becomingh a pain.