The Peachtree City Council has agreed to consider abandoning a cul-de-sac that would be completely surrounded by a new senior apartment development in the Kedron Village area.
Developer NorSouth Properties said it is willing to exchange either a strip of land along Ga. Highway 74 or to compensate the city monetarily for the road.
The property would allow NorSouth to change a bit of its layout and create more room for greenspace at the front of the site.
NorSouth, which sued the city last year over the initial zoning denial for the site, brokered a deal in March that allowed the company to build 94 age-restricted apartments on a 5.6 acre tract off Newgate Road.
The next step is for the city to hire a company to appraise the value of the cul-de-sac. Councilman Eric Imker, having been given an estimated value of $75,000, said he would prefer to go that route instead of the land swap.
It was also noted that the land NorSouth wanted to swap with the city was not developable.
At its March 3 meeting, council unanimously approved the rezoning.
The apartments are targeting seniors who earn no more than about $30,000 a year, and some have questioned what would happen if the company is unable to fill the complex.
The income limit is set due to a requirement of tax credits allowed for the project that are granted on the construction end to keep rents affordable. Anyone earning more than the income limit can rent an apartment at full market price, NorSouth officials have said.
NorSouth representatives have said they have never had a problem finding tenants for its similar properties. The company also has provided a tour of its Atlanta area developments for council members, planning commission members, city staff and the public.
The development will be surrounded on Newgate Road by an existing hotel, car wash, convenience store and gas station, officials said.
NorSouth representatives previously have agreed to the following conditions for the development, among others:
• A requirement for NorSouth and all future property owners to follow federal age restriction and verification policies, which include the use of a photo ID listing each residents’ date of birth.
• NorSouth will notify the city of any ownership or management change for the property;
• Provide covered parking for golf carts; and
• Screening of mechanical units.
