Developers behind Whole Foods 365 project receive tax breaks
The developer behind the North Decatur Square shopping center slated for the corner of North Decatur Road and Church Street will be getting some assistance from county taxpayers.
The Decide DeKalb Development Authority recently approved $1.8 million in tax breaks to support the project. Most of the taxes abated will be property taxes, according to a fiscal impact analysis of the project.
North Decatur Square will include a 365 by Whole Foods Market grocery store, other retail, restaurants and residential housing. It will have 90,000 square feet of commercial space, according to developer S.J. Collins Enterprises. There will be four-story multi-family housing capable of holding 450 residents, the developer says.
The average daily traffic counts when the project is completed will be 29,906 vehicles on North Decatur Road and 25,869 vehicles on church street, according to the developer.
It is anticipated the project will create 321 jobs with an average salary of $32,112, according to the fiscal analysis. The shopping center is expected to be open by Spring of 2018.
“The company [S.J. Collins Enterprises] plans to spend $43.8 million on real property split between retail at $37.2 million and restaurants at $6.6 million,” a fiscal impact analysis says.
Here is the full fiscal impact analysis, provided by the Development Authority: