Phase Two of the Douglasville Downtown Green Still Moving Forward

PRESS RELEASE

Contributor: Jason Post; Douglasville Georgia

(Douglasville, GA) – On March 3, 2022, Mayor Rochelle Robinson wrote a letter to Mill Creek Residential Trust rescinding the city’s offer to sell them roughly seven acres on the former Old Jail site for phase two of the Douglasville Town Green project.

In cooperation with Elevate Douglas Economic Partnership, the city agreed to terms on a memorandum of understanding that proposed to deliver a mixed-use development that would incorporate upscale apartment living and commercial space on the main level.

“It was a difficult decision to rescind the offer to Mill Creek,” Mayor Robinson explained. “We extended their due diligence period on multiple occasions, but the rapid rise in the price of raw materials made it extremely difficult to forecast their costs and, ultimately, eliminated the viability of the project for them.” The noted due diligence period allowed Mill Creek to complete a market study, obtain construction cost estimates, design initial renderings, and evaluate the feasibility of the project.

Pat Chesser, Mill Creek’s Senior Managing Director, confirmed in an e-mail to the city’s legal staff that the rising costs played an integral role in the parting of ways. “Costs jumped to a point over the past year where the economics of this project were not feasible without both the county parcel and a subsidy from the DDA to build some amount of structured parking,” he wrote.

To continue reading, please visit Phase II Town Green Still Moving Forward and also visit City of Douglasville for more information.

City of Douglasville