Alpharetta City Center plan gets warm welcome

ALPHARETTA - City residents got their first good look last week at the latest plans for the downtown City Center, a $69 million public-private development planned on property around City Hall, and they seemed pleased.

City Council chambers were nearly full as the city held the first of four public information meetings about the partnership between the city and the Solomon Group.

The project would feature a mix of retail shops, restaurants, offices and civic space overlooking a one-acre public square.

Bowing to public requests, this project won't include residential space, though surrounding properties might.

Private property owners of the strip center and homes south of the City Hall property aren't participating. Instead, the city took the project across Haynes Bridge Road to add a new downtown park.

City Council will vote on whether to pursue a $24.5 million bond referendum March 30 after the final meeting.

"We just need to hear from you what you think about the project," said Mayor Arthur Letchas.

Alpharetta would spend $12 million on a new city hall, fund part of the below-grade parking and pay for the town green and downtown park. Private investment would pick up about a third of the project's cost.

The remainder would come from Fulton County, if the new Alpharetta Library was built on property adjoining City Center.

Al Holbrook of the Solomon Group said the first phase, which would include the town green and one of the two commercial buildings flanking the new city hall, could come within 18 to 24 months of groundbreaking.

Before anything is done, city residents will have to approve the project in a citywide referendum.

"We have not yet decided to put this on the ballot in November," said Councilman David Belle Isle, who has led the project for the city.

Belle Isle said he preferred to start sooner rather than later, because the city could take advantage of the lowest interest rates in a generation and the lowest construction costs in a decade. In addition, the city's bond payments are about to decrease by 81 percent.

"This is an opportunity to get out in front of this economic situation," he said.

The city's debt payments will drop by $7 million annually starting in 2013, the same year payments would start for a City Center bond, estimated to be $1.8 million annually.

The city will save $6 million over 25 years by eliminating current leases on office space for the Community Development and Finance departments, said Finance Director Tom Harris.

"If we don't, we spend $6 million and have nothing to show for it in 25 years," Harris said. "What this means is this bond can be funded in our current tax structure without a tax increase.

Belle Isle said the city could even increase its budget by more than $5 million without raising taxes even with the City Center.

The savings over 30 years with some of the lowest interest and construction costs will pay for a third of the principal or more. Holbrook said now is the time to do it.

Holbrook's team, which includes eight companies, more than 20 specialists and principals with some 150 years of experience, are committed to the project and to the city.

Solmon Group has made more than seven different investments in land and buildings in downtown Alpharetta, and plans to move to City Center once it is built.

He said one company that needs almost 30,000 square feet of space expressed interest in relocating into the downtown project.

Taxpayers have approved bond issues in the past that have built fire stations, police headquarters, parks, Westside Parkway, intersections, municipal court and greenways, said City Administrator Bob Regus.

If the public supports the project on a November ballot, Regus said ground could be broken on City Center as early as April 2010.

"This is your city, this is your money. We are going to do it only if you want us to," Belle Isle said.

Alpharetta resident Scott Morrisey voiced his support of the project, as did Aaron Slattery, one of the partners in Slice Cafe and the soon-to-be opened Durty Kelly's Irish Pub on North Main Street.

Slattery was passionate in his support for the project and downtown Alpharetta.

"We need this project to happen. Many ventures started with the knowledge and hope of this project. Patience and savings accounts have kept these business owners downtown as they wait for it to happen," Slattery said. "Instead of thinking can we afford it, we should be thinking we cannot afford not to have it."

Sphere: Related Content