Peachtree Corners Eyes Redeveloping Old Housing

PEACHTREE CORNERS, GA -- Some older apartment complexes in Peachtree Corners may be getting an overhaul in the near future.

The city council this month launched a study to develop strategies for redeveloping some of the city's aging multi-housing units, many of which city officials say were built in the early '90s.

The council hired Bleakley Advisory Group to study redeveloping "existing apartment properties which have outlived their economic usefulness and have become areas of lagging property values."

The study will consider both transitioning the properties into new housing and other land uses, the city said in a news release.

"Finding ways to redevelop these older apartments was part of our recent study of the Holcomb Bridge Road/Outer Peachtree Corners Circle corridor," said Mayor Mike Mason. "Research shows that this area of the city has over 4,500 apartment units which are now more than 20 years old."

Providing quality housing, particularly for young workers in the city's Technology Park area, has been a priority of Peachtree Corners' young government.

Last week, the city announced plans for Twin Lakes, a multi-use development near the park that will include a 295-unit apartment complex geared toward millennials.

The aging-housing study will target several possible sites and recommend regulatory and financial incentives to stimulate redevelopment of the properties

The city expects the study to take four to five weeks to complete, the release said.