Roswell City Council has approved an exciting new mixed-use development project that promises to transform the property adjacent to City Hall, fostering economic growth while keeping property taxes low for residents. At its December 9 meeting, Roswell City Council agreed on a Letter of Intent (LOI) with Atlantic Companies to develop approximately 80,000 square feet of commercial space along Hill Street. This project will include office, retail, and restaurant venues, alongside 143 multi-family apartments and 14 for-sale townhomes or brownstones. With 485 City-funded parking spaces, the development will improve accessibility and convenience for residents and visitors alike, creating a vibrant new hub in downtown Roswell.
The Hill Street Mixed-Use Development builds upon a previous plan from 2019 but has been significantly enhanced under the leadership of Mayor Kurt Wilson. After taking office in January 2022, Mayor Wilson renegotiated the project to ensure greater benefits for the community. The revised plan expands the commercial space dramatically, from 10,092 square feet to 80,000 square feet, and reduces apartment density, offering a more balanced and economically beneficial outcome. With a combination of structured and surface parking, the project not only addresses parking needs but also paves the way for increased commercial activity before the completion of residential units.
The City’s strategic agreement with Atlantic Companies secures multiple revenue streams, including lease payments based on the land’s appraised value, shared revenue from property sales and refinancing, and parking revenue. Additionally, the developer will make payments in lieu of taxes (PILOT) for City-leased properties, and all residential units will contribute to full property taxes. This innovative financial structure will bolster Roswell’s economy while maintaining fiscal responsibility. Mayor Kurt Wilson highlights the project’s significance, stating, “This development will generate new revenue streams while revitalizing a key downtown area, making Roswell an even better place to live, work, and visit.” The Hill Street Mixed-Use Development represents a visionary step toward sustainable growth and prosperity for the Roswell community.