The market for mixed-use along the 400 corridor continues to be hot. There are at least four major projects in some state of the development process at the moment from Roswell to South Forsyth. Avalon has obviously been a major hit and readers of this blog will no doubt be aware of Riverwalk Village here in Roswell. There is also the City Center development in downtown Alpharetta as well as the HALCYON project in South Forsyth at the McFarland exit.
The trend toward mixed-use along the 400 corridor dates back to the mid-aughts when Charlie Brown brought forward the East Roswell project. There was also the Prospect Park project on the land that is now Avalon that notoriously died after the land was cleared and some of the concrete was laid for the parking structure. There have also been proposals floated at Windward (Windward Mill) and at Haynes Bridge (MetLife) that have not really made it too far as of this writing. We also have the Riverwalk Village project that has been over a year in the making in Roswell. It's now on it's third version of the site plan and could see more updates. Finally, the HALCYON development designed by Lew Oliver is making headway in South Forsyth.
Each of these projects is ushering in a new era for the northern metro area by bringing a more walkable environment to areas that have historically been drive-only. None of them is a panacea of walkability in itself, but together, they certainly signal a change in our development pattern. Additionally, Riverwalk and Avalon would both connect with MARTA rail if the Red Line extension becomes a reality. To say this would be transformative would be an understatement. On top of that, both Riverwalk and HALCYON would connect directly with the Big Creek Greenway which would be huge for pedestrian and cycling on the already popular trail (now if Alpharetta can just connect their piece to the Forsyth piece).
I wanted to take a look at the legitimate projects that are in play; Avalon, Riverwalk and HALCYON and also compare them to the two legacy projects that made it the furthest through the development process; Prospect Park and East Roswell (aka Charlie Brown). All of these projects combine all or some of the following; residential, retail, office, hotel, civic, greenspace. I'll compare each of them in those areas and some others. Here's how they stack up.
The top billing here would have been Charlie Brown (aka East Roswell) coming in at 2,975 units (primarily condos). Next up is Riverwalk Village's most recent proposal (their 3rd, it's hard to keep track) with 1,186 units, 300 of which are senior housing. The smallest proposed was Prospect Park with 464.
Civic or Institutional
There really isn't much to talk about here for most of the developments. Avalon will have a 45,000 sq ft conference center as part of its second phase and Riverwalk has signed an agreement with the Swift School which will be 200,000 sq ft.
The first iteration of Riverwalk was truly gigantic with 1.7M sq ft of office proposed. It has since reduced that down to a 350,000 sq ft which is the smallest of any of the developments on the list. Next largest was Charlie Brown with 750,000 sq ft proposed. Avalon will weigh in at 655,000 sq ft when complete.
Prospect Park would have reigned supreme here at 770,000 sq ft and Avalon has come closest to matching that at 590,000 sq ft. The initial Riverwalk proposal was 17% smaller than Avalon at 490,000 sq ft. They have reduced that to 155,000 sq ft which is about the size of one grocery anchored strip mall.
Finally we get to mention HALCYON. They plan 2 hotels but only one has a room number estimated and that is 110. Avalon plans a 325 key full service hotel that will be run under the signature collection brand. Riverwalk initially proposed a 200 key hotel that would have been the largest in Roswell but has since reduced that to a 150 key hotel which will be smaller than the Doubletree.
There is no competition here. Charlie Brown proposed 13 low to mid-rise buildings with 4 of those being condo towers ranging from 24 to 27 stories. The next closest is Avalon with a ~14 story office building (check that). Riverwalk is proposing an 8 story hotel with all other buildings being 6 or fewer stories.
Here's the matrix to compare each of these in more detail. Putting together this data was a challenge as old news stories were spliced together to form as complete of a picture as possible. If there is any data that is incorrect, let me know and provide a source and I will update the matrix and the post.