Dunwoody Moves to Acquire 24 Acres in Georgetown Area
City Continues Implementation of Master Plans
Dunwoody, Georgia – August 15, 2011 – The City of Dunwoody has concluded negotiations with American Medicorp and plans to acquire several key parcels, totaling 24 acres, in the Georgetown / North Shallowford area of Dunwoody. These purchases will move forward the implementation of the Parks, Transportation, and Georgetown Master Plans, which were all adopted earlier this year.
The City plans to conduct a public hearing as part of its regularly scheduled Council Meeting on Monday, August 22nd and will consider a Resolution authorizing the City Manager to execute a sales contract for the purchases.
Peachford Road Extension
- Location: 4471 North Shallowford Road
- Price: $1,436,000 ($278K per acre)
- 5.173 acre parcel contains 12,067 sq. foot office building
- Purchase is the first acquisition of several that are necessary to extend Peachford Road to a new terminus point at Dunwoody Park Drive
- Part of Transportation and Georgetown Master Plans
Park Land Acquisition
- Location: 4553/4555/4575 North Shallowford Road (anchored by the former Emory Hospital site)
- Price: $5,532,000 ($289K per acre)
- Parcels total to 19.084 acres
- Purchase adds needed park land acreage
- Part of Parks and Georgetown Master Plans
- Purchase contingent on Parks Acquisition Bond Referendum
Funding for the Peachford Road Extension purchase will be funded from existing cash reserves and the transaction is expected to close by the end of 2011. The purchase of the park land is contingent on the passage of the bond referendum on the November 2011 ballot. Should the bond fail to pass the City can withdraw from the contract without penalty.
At closing, the City has agreed to reimburse the seller $600,000 for demolition costs at the former Emory Hospital site.
A full press release is forthcoming; for additional information regarding either of these acquisitions please contact City Manager Warren Hutmacher, at 678-382-6700.