THE BELMONT PROJECT
Saturday, June 23rd, 2007The new Belmont mixed use development at the corner of Atlanta Road and Windy Hill Road is going to be a premier mixed use community. The old Belmont shopping center is hopefully going to see life again. The Belmont shopping center in the 70’s was one of the hottest shopping centers in the southeast. It set the pace for the malls we have today. I read an article that said Hollywood would open new movies at the old Belmont Shopping Center and would gauge the success of a movie based on the Belmont box office take. It must have been something to see in the day!
It’s a huge piece of property. It’s a sprawling 47.5 acres right in the middle of the hottest growing area in Atlanta, Smyrna GA. Atlanta Road has made major road improvements. Having this new mixed use development right in the middle of Atlanta Rd will have a huge impact on future development extending in both directions up and down Atlanta Road. In time you will be able to start at the Marietta Square and have beautiful buildings and developments all the way to I285. Take a ride today and you might think I’m nuts. For true it’s coming, now is better than later. Nothing is getting cheaper to develop.
The developer Halpert Enterprises has had to jump through a lot of hoops with Cobb County. Halpert is asking for TAD (Tax Allocation District) financing. Cobb County has set June 26 as the tentative date to approve its TAD guidelines. TAD money helps offset some of the expense in developing a project of this proportion. For instance TAD financing was approved for the Jonquil Square development right down the street. This projected needed to build underground parking for 1000 cars at a cost 18 million dollars. You had to have the parking to make this project work. Without the TAD financing the project would still be on the drawing board or an old run down strip center would still be there with half empty store fronts. Why give any developer TAD financing? Because Cobb County will get bigger and better reoccurring long term tax revenues from the new development. It’s a win - win situation for the city of Smyrna and Cobb County. I personally hope Cobb County approves the TAD guidelines that will allow the Belmont project to move forward. Halpert Enterprises is hemorrhaging money as they wait for the commission and school board to approve the project.
Belmont will be the new downtown Smyrna when finished. The proposal just looks beautiful. It offers lots of green space in proportion to development. This project gets my full support and thumbs up!!! It will bring new life to an old tired mall that was once a great attraction for all of metro Atlanta! Make it happen Cobb County!
