PTC Council approves city’s first loft condo complex for Lexington Park by vote of 4-to-1
The retail and residential development on Lexington Circle that Fayette County businessman Dar Thompson said is unlike anything seen in the city or county was approved Aug. 18 by the Peachtree City Council.
The proposal at Lexington Circle along Ga. Highway 54 East received approval by the council on a 4-1 vote. The vote following a public hearing had Councilman Mike King opposed and suggesting that a negotiation to have 50 units rather than the maximum 80 units be discussed.
The proposal was to construct a four-story retail and residential building with a maximum of 80 condo units with a starting price of $350,000. The residential units would be situated on the top three floors of the building. The original number of condos was placed at up to 100, though Thompson more recently said 75 units were more likely.
Thompson’s representative, former Fayette County Commission attorney Scott Bennett, said a maximum of 80 residential units would range from 1,200-1,800 sq. ft. All units will be for sale, he said, adding that the starting price of a fee simple condo in the $22-24 million project would be $350,000.
Bennett on Aug. 18 said the most recent proposal reduced the size of the property’s footprint from 4.8 acres to 3.5 acres, with the building situated on the northernmost portion of the property which is further in distance from nearby Governors Row residences.
Bennett said the high-end residential development is expected to attract empty-nesters, those who want to remain in Peachtree City but do not want to a larger home with required yard work.
“This is not conducive to families,” Bennett said, noting the $350,000 starting price. “This is for a specialized market.”
Bennett reminded council members that, with the current zoning, a variety of retail offerings such as hotels and movie theaters could be constructed with no required approval.
Of the six speakers opposed to the project, four were nearby Governors Row neighbors and Newnan attorney Melissa Griffiths who represented three homeowners. Griffiths objected to the four stories and underground parking, saying that constituted five floors.
Addressing prior comments by neighbors, Griffiths said the building would block neighbors’ view, adding that an approval would amount to spot zoning.
Bennett is his response disagreed on Griffith’s assessment on spot zoning. Responding to a comment on potential leasing of condos, Bennett said he expected covenants to limit leases to 10 percent of the units, adding that lease prices would be too high for investors looking to rent a condo.
The council took up the issue after the public hearing was closed, with King offering first comments.
“The Planning Commission said ‘no,’ but each one said they liked the idea and the project,” said King, adding that he also liked the project but had a problem with density. “Can there be a number, say 50 units, that everybody can live with? My problem is the total density.”
Councilman Phil Prebor responded, saying the location of the project is a good fit for the community and explaining that he knows Peachtree City residents who are looking for a maintenance-free lifestyle like the one being offered by Thompson.
“The alternatives are scarce,” Prebor said, then referencing the discussions and eventual decision regarding The Overlook retail area with eventual changes that resulted in something less than what had initially been proposed when Kohl’s was expected to be a likely anchor.
“The core issue is that something is going there. This or something else. So what is the something else?” Councilwoman Kim Learnard asked. Her comment followed up on Bennett’s earlier statement, and those made previously by Thompson, noting that a hotel with higher traffic volumes and other retail stores would populate the area if the proposal was denied.
It had been stated earlier in the meeting that the residential lofts and retail development would result in an estimated 1,469 trips per day of vehicle traffic compared to hotel and other retail development which would generate nearly 3,000 trips per day.
Learnard in laying out her support for the project said it would fill a need for those wanting to have alternative living accommodation in the city, adding that “there is nothing like this in the city.”
Learnard said the Lexington Circle development would also provide a walkable environment for those residents and would offset the increased traffic if the area was developed as purely retail.
“To decline (the proposal) would leave us with a terrible unknown. I think this is a nod to the future. And I don’t think we’re here tonight to compromise,” Learnard said, referencing King’s suggestion to negotiate the number of condos.
Councilman Terry Ernst in his comments agreed with Learnard, stating his belief that the proposal would be a “great fit for Peachtree City.”
Mayor Vanessa Fleisch said that having only commercial on the property would make traffic in the Lexington Circle far more intense. Fleisch said she was inclined to go with the proposal since the number of condos had been reduced and the size of the developable parcel was reduced from 4.8 acres down to 3.5 acres and situated on the northernmost area of the property.
With that, the motion to approve the proposal was made. It passed on a 4-1 vote, with King opposed.
The proposal received an unfavorable response from the Peachtree City Planning Commission in June.
