Alpharetta's North Point Mall is slated for a major makeover after city leaders voted in favor of rejuvenating the once bustling shopping destination. Yesterday, the City Council approved the creation of a tax allocation district (TAD), which is expected to serve as a financial catalyst for the mall's redevelopment. A statement obtained by FOX 5 Atlanta detailed that the plan includes a vision for new housing, commercial spaces, and the potential for a professional hockey arena.
The tax allocation district is seen as a major boon for the city, with officials highlighting its potential to attract an NHL expansion team. As a councilmember explained to FOX 5 Atlanta, "The council has been looking at this as developing this area the right way to go through the city, not necessarily because we want to attract the NHL here, but certainly this tax allocation district puts Alpharetta front and center on the ability to negotiate when the NHL [is] bringing an expansion team here."
The next steps involve securing an investor to spearhead the project. According to WSB-TV, Alpharetta residents have lamented the mall's decline with Matthew Khodayari recalling its heydays, while Behnaz Khodayari expressed sadness over its current state, saying, "And last few years, it’s just very sad," and highlighting its emptiness.
Yet, there's a sense of optimism as the City Council's plan won't burden taxpayers. The consultant for the firm collaborating with the city told WSB-TV that the ambitious multi-million dollar project will be financed over around 30 years through the new tax district.
