Forsyth County Mixed Use Project Delayed

For those following the ongoing saga, you may not be surprised to hear that the Forsyth County mixed Use Project has been delayed.

In 2008, Taubman Centers Inc. signed a deal with Forsyth County to build a regional mall, office space, hotels and residential units on a 164 acre plot that sits between Union Hill and McFarland roads. The original agreement called for a finish date of 2015.

However, due to current economic conditions and recent sale of a parcel of land for apartments which that developer plans to begin soon, Taubman sought changes to the agreement.

In a meeting held on October 7, 2011 Forsyth County commissioners voted 5-0 to make amendments to the development agreement with Taubman which will push back some of the contractual dates resulting in an opening date of the regional mall being delayed until 2020.

The amended agreement will also push back the county’s deadline to reimburse Taubman for right-of-way costs and allow the developer to purchase a portion of its reserved sewer capacity at a reduced rate.

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 This Cumming GA Real Estate blog is hosted by Gayle Barton of ERA - The Real Estate Connection. 

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