Business
Building a Thriving Community through the Peachtree Corners Redevelopment Authority
Driving along the Holcomb Bridge corridor in Peachtree Corners brings one up against a medley of sights.
Condos. Offices. Strip shopping centers. Apartments built well before the turn of the century, some showing their age. But not much freshly turned earth, construction equipment or framed skeletons of buildings.
City officials would like to see more of the last — quite a bit more in fact.
Why the Redevelopment Authority?
Superimposed on present reality is their vision of how the area could one day look — provided that a newly created quasi-independent authority can forge multiparty development deals involving itself, developers, landowners and city government.
That’s why the Peachtree Corners Redevelopment Authority was created. Working within a general framework created by the state of Georgia, the mayor, city manager, planning staffers and council members spent months in meetings working to establish a local entity. The final step was appointment of nine members to the authority board at a Dec. 12 council meeting. Now it’s time to turn what’s been on paper up until now into a reality.
Look for a laser focus on the authority’s zone of responsibility, encompassing roughly one-third of the city’s footprint and centering along the Holcomb Bridge corridor.
City Manager Brian Johnson says zeroing in on that area simply makes sense.
As he explained, “The southern portion of Peachtree Corners was developed first so the area we put into the redevelopment zone is the oldest part of the city. A parcel can be developed and over time the surrounding area can change its character.”
That argues that the current best use of a property might be something different than how it was imagined decades ago.
One example: a commercial development such as a strip shopping center built with large parking lots and stores set well back from the street. Contrast that with the more modern approach to such commercial space — buildings set closer to the road and parking somewhat hidden. Another: a residential neighborhood where the surrounding turf has gone industrial.
Either of those, or other instances, could get a new lease on life.
How the Authority helps development
Community Development Director Diana Wheeler said creation of an initial citywide usage/development plan after incorporation in 2012 and a package of existing incentives (such as allowing variances on density) lured investment in other parts of the city — the Town Center development being a prime example.
But that didn’t fly along the Holcomb Bridge Corridor.
“We actually had a developer run some numbers for us to see what the issues were,” she said. “We found those numbers didn’t work.
“From a developer’s point of view, they’d approach a property owner and say they were interested in purchasing. The apartment owner would say it’ll cost you such-and-such because we’re making so much right now (due to high occupancy levels). So the developer is not only paying for the land but also buying out an existing business.”
Enter the redevelopment authority, which has both some unique powers and more flexibility in making deals than the city at large.
“For one thing,” said Johnson, “They can sole source and not have to bid out projects.” With a city, for example, if it’s a project above $50,000, they have to let it out for competitive bidding. That means an authority can go the distance with a private developer in consummating a development.
A redevelopment authority also has the power of eminent domain, can condemn property and abate nuisances. And it can cut breaks on property taxes.
“We’re looking at a domino effect,” said Wheeler. “If we get one or two under our belt, then the motivation will be to have things happen organically after that.”
Not only will the authority be able to plan and implement brick-and-mortar projects, it can also have a hand in various community improvement initiatives, such as reducing crime and preserving open space, said city officials.
Challenges and assets
One possible hitch involves the authority’s ability to get its hands on sufficient revenue to jumpstart development.
Johnson said such entities typically start out without revenue, so the city would have to pony up dollars up front. And since Peachtree Corners has no property tax, that shuts off one potential source of financing. Johnson said somewhat down the road, the authority could derive revenue in a number of ways, such as buying a building and leasing it out to tenants for steady rental income. In the early going, city officials said, selling bonds might well supply operating funds.
Shaun Adams, an attorney who has served with the United Peachtree Corners Civic Association, was among those appointed to the board in mid-December. He looks forward to delving into such details.
“I will want to dig into (the city’s existing) plan in more detail and see if I can identify additional opportunities,” he said. “I’m honestly excited to serve in this capacity.”
Other board members include real estate, education and engineering professionals from different parts of the city who represent a variety of ethnicities, ages and genders.
City Council member Weare Gratwick said whatever happens in coming months, the recently constituted board is well up to the task. He’s one of two council members who will exercise ex-officio oversight over the semi-independent entity.
“We had over 30 applications from citizens to be on this board and all were good and well qualified. It was very difficult to choose,” he said. He said the final compliment is a diverse mix that represents “the best and the brightest.”
Johnson thinks the deals that emerge from the work of those bright minds will likely take one recurring form. “Mixed-use developments are mentioned more in connection with this because they work,” he said. “You can prevent having too much of one thing in a small area by mixing uses and those uses can feed off each other. They are symbiotic.”
Blending various types of housing with nearby restaurants such as a coffee shop is but one example, he said. But “what is more important is the highest and best use of a property,” Johnson added. “Maybe a big industrial development could be in the works for the area or Amazon may want to create a distribution center.”
Time to get moving
Now that the mechanism and its people complement are in place, he has a definite timeline in mind moving forward.
Johnson foresees the board taking three to six months to get comfortable in its role and become educated on the area within their jurisdiction and spending the second half of the year vetting details and doing due diligence.
“Just because something looks good from 30,000 feet doesn’t mean it looks as good from 10,000 feet,” Johnson warned.
He added, “Maybe by the end of this year, there’s a vetted opportunity with a developer who would step forward and say, ‘I’m interested in a certain location and want to do a specific deal. And I’m going to need help to make that happen.’”
The city manager hopes that would lead quickly to working on the hard-core details of turning a set of plans into brick and mortar. He said here are many combinations under which a development could come together, including dealmakers employing sub-developers who specialize in one specific aspect of design or construction.
In the context of a mature city running out of undeveloped land, city officials hope those high-fliers who make a cruise along Holcomb Bridge Road will get a much different visual experience in the months and years to come.
Think flying dirt, the roar of bulldozers and steel-framed skeletons.
Although a precise number of countries with companies that do business with and inside the City of Peachtree Corners isn’t readily available, it’s obvious there is a broad international presence in this metro Atlanta community that is becoming the center of the Southeast’s Silicon Orchard — with technology incubator, Curiosity Lab, being a primary factor in this reach for global business.
One of the most recent endeavors took place at an announcement ceremony on July 1 when Mitsubishi UFJ Financial Group (MUFG), formerly the Bank of Tokyo-Mitsubishi UFJ, signed a memorandum of understanding with Peachtree Corners. This agreement formalizes an already long-standing relationship between the city, Curiosity Lab and MUFG and recognizes a partnership aimed at advancing innovative solutions in transportation and Smart City technology.
Joining Peachtree Corners Mayor Mike Mason and City Manager Brian Johnson at the event were Mio Maeda, consul general of Japan, Yukata Fujishiro, head of JCB for the Americas at MUFG Bank, Hiroyuki Akiyama, chief executive director of the Japan External Trade Organization (JETRO) Atlanta, a non-profit that provides business support services to companies expanding to Japan and Yuichi Arai of the Japanese Chamber of Commerce of Georgia.
Two countries, one goal
The bank’s unique MOU with Curiosity Lab is the first of its kind, focusing on scaling startups and innovation, setting a new standard in the financial sector. Mayor Mason emphasized the economic development benefits of the collaboration.
“The reason we [built Curiosity Lab] was for economic development,” he said. “And when you have [an organization with] the same goals, a partnership like this develops, and it does nothing but further our goals for the economic development of our citizens in the broader community.”
Mason added that this collaboration will strengthen the already powerful relationship between the city and the country.
“We leverage that to open up our markets — your markets to us, our markets to you. And only good can come with that,” he said.
Maeda agreed that the association will open new doors for both entities.
“More than 800 Japanese companies and Japanese-affiliated companies and offices with activities are in the state of Georgia,” he said. “It’s huge, but mainly they are in areas of manufacturing. This partnership opens up new frontiers of the relationship between Japan and Georgia in advanced technology.”
Future success built on past engagement
Fujishiro put it all into perspective when he emphasized the company’s legacy and its future. MUFG’s mission is to connect companies, society and local governments, highlighting their extensive network in Japan.
“MUFG has been innovating for over three centuries, and Curiosity Lab is leading innovation for the future. Together, we can create cities that are smarter, faster, cleaner and more efficient,” he said.
It’s not a coincidence that the partnership is taking place here. The support network in metro Atlanta has been instrumental in formalizing the relationship with MUFG. As the largest bank in Japan and one of the top ten in the world, MUFG embraces new ways of doing things while staying true to its core values.
“Urban infrastructure is a large part of our work,” said Fujishiro. “We financed the new Terminal One at New York’s JFK Airport. [And] MUFG is one of the banks that contributed to the investment in the construction of Mercedes Benz Stadium in downtown Atlanta.”
“We are thrilled to partner with Curiosity Lab,” he continued. “They are pioneering the next generation of city infrastructure with autonomous vehicles, solar-powered roads and smart public technologies from all over the world. And Peachtree Corners has created a dream come true for companies across industries: a testing site where local government encourages private industry.”
Innovation and growth
MUFG’s 360 years in existence isn’t a fluke. The company looks for innovative ways to enhance its profile. They host accelerate events in Japan and have a venture capital and equity fund to invest in startups globally — something that’s not standard practice in many American banks. But it has already proven successful in this country, as the Atlanta office is approaching its 50th anniversary.
“This milestone reflects our long-standing commitment to the economic development of the region,” Fujishiro said. “Supporting Japanese businesses has been an integral part of this commitment. We have the reach of a global institution and the client service of a local branch. This unique culture allows us to connect Japanese companies with the best opportunities abroad.”
The dedication to innovation and infrastructure shared by MUFG and Peachtree Corners makes the partnership more valuable, he said.
Johnson explained that the coalition with MUFG was an obvious win for the city.
“We have an opportunity and a location to scale technology, to make the world a better place and to make it easier to do so. And so we’re really excited that that goal and mission marries well with MUFG,” he said.
“MUFG is a bank that understands the challenges that companies in the innovation space have,” Johnson added, “and they created an internal framework to help those companies, and a framework for external partnerships so that we can connect companies and products … and together try to make the world we live in a little bit safer, smarter, cleaner.”
This partnership between the city and MUFG aims to foster innovation and urban infrastructure and connect Japanese companies with global opportunities, leveraging MUFG’s global reach and local client service.
For more about MUFG, visit mufgamericas.com.
To learn more about Curiosity Lab of Peachtree Corners, visit curiositylabptc.com.
The Peachtree Corners Business Association and the City of Peachtree Corners officially welcomed Ride Lounge, one of the city’s newest businesses, with a morning ribbon cutting ceremony on May 29.
From 9 a.m. to 10:30 a.m., members of the city and PCBA, along with members of the community, enjoyed mingling, getting to know the Ride Lounge staff and learning more about the unique company.
Guests also enjoyed a light breakfast spread of bagels, fresh fruit, coffee and juice and brief speeches from featured guests.
Welcoming the business
Lisa Procter from the PCBA spoke first and thanked Ride Lounge for being part of the PCBA and the Peachtree Corners community. She also recognized the collaboration between the organization and Ride Lounge in hosting the ribbon cutting.
“The PCBA was proud to coordinate with Ride Lounge and the community to make this event a success,” Procter shared.
Mayor Mike Mason followed Procter in addressing the crowd and talked about the state of business in Peachtree Corners and how companies like Ride Lounge help make the city a great place to live and work.
Dave Codrea and Josh Friedensohn, founders of Ride Lounge, then thanked everyone for coming and shared a little about the company and their vision.
The cutting of the ribbon and photos followed the brief speeches. Afterwards, the crowd was invited to tour the space and spend more time chatting and networking.
About Ride Lounge
The Ride Lounge is more than a car storage facility, it’s a place that celebrates car culture; where car enthusiasts can meet to discuss their passion and show off their vehicles.
Founders Dave and Josh wanted to create a welcoming community that people would trust to store their vehicles, but that would also offer a club-like atmosphere and host fun, car-centered events that the whole family could enjoy.
Ride Lounge’s 20,300-square-foot facility is comprised of 58 parking spaces with the potential to include car lifts in certain areas. There are cozy seating areas, a meeting space and kitchen area so members can hang out, relax and talk cars.
Designed for cars that are driven and enjoyed by families, Ride Lounge has room to hold up to 400 people for special events and activities.
To learn more about Ride Lounge, visit ride-lounge.com.
For more about the PCBA, visit peachtreecornersba.com.
Company adds 20,000 square feet to meet growing demand
Music Matters Productions (MMP), a premier provider of audio, lighting, video, staging and rigging solutions, has expanded its metro Atlanta headquarters, increasing the total warehouse footprint from 40,000 to 60,000 square feet.
In addition, MMP has opened a second 10,000-square-foot building directly across the street to house its growing corporate production division.
The expansion comes in response to increased demand across touring, festival and corporate markets, as well as the continued growth of MMP’s high-end gear inventory. With a fully dedicated shop for each department, including audio, lighting, video, rigging and staging, the new layout provides more space for show prep, pre-rigging and crew coordination, allowing for even more efficient load-ins and streamlined execution.
New features
The rigging department now features a new mobile motor hoist test stand, allowing for in-house motor certification, a service that’s now available to external clients in the production community.
Five new truck bays were added in the process, as well, bringing the total number of bays to 17 — an important upgrade for MMP’s fleet and the increasing number of shows moving through the warehouse each week.
“This growth is a direct reflection of the work our team puts in and the trust our clients place in us,” said Aaron Soriero, owner of Music Matters Productions. “We didn’t expand for the sake of being bigger, we expanded because we needed the space to do the job right. More room means tighter prep, faster turns and better support for our clients.”
Expanding operations
The expanded warehouse and building across the street include additional offices, mixed-use areas and a dedicated repairs department, giving the team more capacity to prep, collaborate, QC and scale for increasingly complex events — both corporate and entertainment.
With a reputation built on reliable gear, experienced crews and an enhanced client experience, MMP continues to solidify its role as a go-to production partner for events of every size and setting — whether it’s a beachside festival, a stadium tour, brand activation or a high-stakes corporate show.
About Music Matters Productions
Music Matters Productions is a full-service live event production company based in Peachtree Corners, Georgia, providing industry-leading audio, lighting, video, rigging and staging solutions for tours, festivals, brand activations and corporate events across the country.
Known for its high-end inventory, seasoned crew and deep dedication to doing the job right, MMP supports hundreds of productions each year and is trusted by clients nationwide.
For more information, visit mmp-atl.com.
Curiosity Lab Welcomes New Partners & Collaborators to Peachtree Corners
New Exhibit Buzzes into Fernbank Museum
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Over 150 Runners Participate in PCOM Georgia Blaze 5K
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Wannabe: Spice Girls Tribute and Boy Band Review Take to the VoxStage on July 26
One Can for One Meal: Raid Your Pantry for Free Nando’s on July 18
City of Peachtree Corners Extends Its International Reach
New Exhibit Buzzes into Fernbank Museum
Curiosity Lab Welcomes New Partners & Collaborators to Peachtree Corners
From the Mayor: Let’s Get Growing – Welcoming the Peachtree Corners Garden Club
Over 150 Runners Participate in PCOM Georgia Blaze 5K
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