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Large mixed use development planned for Dunwoody.
Atlanta-based Branch Properties has revived their plan to develop a prime piece of real estate in Dunwoody. The vacant bank branch at 84 Perimeter Center East occupies nearly three acres across from Perimeter Mall and has been vacant for about a decade.
Atlanta-based Branch Properties has revived their plan to develop a prime piece of real estate in Dunwoody. The vacant bank branch at 84 Perimeter Center East occupies nearly three acres across from Perimeter Mall and has been vacant for about a decade.
The last bank I recall operating from the site was the National Bank of Commerce but sources indicate the bank was originally a First Atlanta branch. NBC closed shortly after its 2004 acquisition by SunTrust.
Last year the bank reopened, albeit briefly, as Perimeter Trust, a faux bank used as a filming location for the upcoming feature film "Baby Driver." The film, which is due to be released June 28th, stars Kevin Spacey, Ansel Elgort, Jamie Foxx, Jon Hamm and Eiza González and involves, you guessed it: a bank robbery!
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| The bank as "Perimeter Trust" - Photo courtesy of Jennifer Brett of the AJC |
Branch first proposed a redevelopment of the property in 2008. Back then, before the City of Dunwoody was formed, the Dunwoody Homeowners Association (DHA) gave their endorsement for the planned project to DeKalb county. DHA President Robert Wittenstein indicates that the developers were subsequently granted the commercial rezoning needed by the county.
The approximately 200 room, twelve story hotel concept remains largely unchanged, but rather than a 70,000 square foot fitness center as was previously proposed, Branch now plans to build a mixed-use development with about 50,000 square feet of retail and restaurant space divided between two, two-story buildings.
Perimeter Exchange, as the property is marketed, would have about 300 parking spaces, most of which would be located in a two story parking deck below the hotel.
While Branch is not yet at a point where it is ready to announce either its hotel partner or any would-be tenants, Jack Haylett, senior vice president of Branch Properties, told Reporter Newspapers that "his company has received a great deal of interest from hotels wanting to locate at the site including hotels not currently in the area."
While I would personally love to see an Andaz, an upscale boutique offering from Hyatt Hotels, open in the area, more likely candidates include Renaissance, AC by Marriott or perhaps a property from the recently launched Marriott brand Moxy Hotels. Another possibility is a new hotel from InterContinental Hotels Group given their North American headquarters is essentially a stone's throw from the property.
The site plan for the project indicates that there will be 3,765, 5,750 and 9,000 square foot restaurant suites on the first floor. The first floor will also include 4,350 and 4,825 square foot retail spaces joined by a second 4,825 retail space on the second floor. A large 22,335 square foot space that can be subdivided, is also listed for the second story.
Atlanta-based The Shopping Center Group is handling the retail and restaurant leasing for the project. The firm's marketing materials refer to the area as "Atlanta’s #1 office market with over 29 million SF of office space & over 136,000 employees within a 3-mile radius."
The Reporter Newspaper article indicates that entrances to the project would be off Perimeter Center East. Additionally, no applications for the proposed development have been submitted to the city, but rezoning will be needed for the proposed restaurant/retail space.
The article also states that there are plans to conduct a study to address concerns about traffic on Ashford-Dunwoody Road. This would seem to be essential, considering that traffic around Perimeter Mall has only worsened since the project was first proposed so many years ago.
It's also worth noting that since the project was first proposed, a new freestanding Starbucks with a drive-thru opened adjacent to the project in late 2012, as did multiple new apartment communities behind the project, adding hundreds of new units.
The DHA did, however, vote against the planned redevelopment of the former DeKalb county police precinct into a Pollo Tropical restaurant in late 2015. Hines Atlanta Associates, the firm who had planned to build the restaurant, withdrew its rezoning request to build the drive-thru restaurant in February of the following year. It's perhaps a good thing that the Pollo Tropical never materialized, as the chain has closed four of its 17 metro locations since last fall with additional closures likely.
Atlanta based Hotel Equities built a new 132 room Hampton Inn hotel at the corner of Ashford-Dunwoody Road and Perimeter Center North that opened last May. The firm is also building a 127 room Residence Inn by Marriott adjacent to the Walmart Supercenter anchored Perimeter Village shopping center. The Residence Inn has had a few construction related delays, but is currently on track for a late summer opening, according to a source familiar with the project.
Branch Properties also owns nearby Ashford Restaurant Park, home to Brio, McCormick & Schmick and P.F. Chang's, among other properties it owns in metro Atlanta.
What are your thoughts on this significant redevelopment? What, if anything, can the City of Dunwoody do to ease traffic congestion around Perimeter Mall, and especially on Ashford-Dunwoody Road? What types of retail or restaurant tenants would you like to see open in Perimeter Exchange?
Please share your thoughts below.