The former Olympic Tennis Center near Stone Mountain may become Gwinnett’s third Costco location. Costco has locations now in Duluth and Buford.
On Tuesday, Gwinnett commissioners set in motion the sale of the Stone Mountain Tennis Center site to Fuqua Acquisitions II, LLC for approximately $5.6 million. The sale will open the door to the site’s long-anticipated redevelopment.
The County acquired the 26-acre property in 2016 as an opportunity to revitalize the underused site and stimulate redevelopment in one of the major gateways into Gwinnett County. Through a competitive solicitation process, the county partnered with Fuqua Acquisitions II, LLC, to redevelop the property.
Last October, the land was rezoned for a regional mixed-use development that will encompass wholesale retail, four restaurants and multifamily residential, including 50 dedicated affordable housing units. The project is expected to create 520 permanent retail and dining jobs, and approximately 400 construction jobs will be created during the two-plus years the redevelopment will be in progress.
Community greenspace, transit enhancements and additional transportation improvements are amenities planned for the site.
Jeff Fuqua, principal of Fuqua Acquisitions II, LLC, says: “I am excited about this development and what it will mean for current and future residents to be able to access shopping, dining, and employment opportunities right in their backyard.”
Fuqua and its development partners will invest an estimated $158.8 million to redevelop the tennis center site. Fuqua Development is a real estate development firm specializing in urban retail mixed-use supercenters. The company has developed such notable local projects as Peachtree Corners Town Center and The Exchange @ Gwinnett near the Mall of Georgia, as well as the retail portion of The Battery at Truist Park, home of the Atlanta Braves.
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