Alpharetta leaders have taken a major step toward transforming the aging North Point Mall property.
The City Council on Monday approved the creation of a tax allocation district, a financing tool that could help move forward an ambitious redevelopment plan calling for thousands of housing units, millions of square feet of commercial space and even the possibility of a new professional hockey arena.
City officials say the district strengthens Alpharetta’s position as potential talks emerge around an NHL expansion team.
PREVIOUS STORY: Alpharetta to study feasibility of building sports venue to attract pro hockey
“The council has been looking at this as developing this area the right way to go through the city, not necessarily because we want to attract the NHL here, but certainly this tax allocation district puts Alpharetta front and center on the ability to negotiate when the NHL [is] bringing an expansion team here,” a councilmember said.
The next step is to secure an investor to lead the revitalization of the 90s-era mall site, which city leaders hope will become a major mixed-use destination.
