Case Study

Avalon

Alpharetta, GA
86 acre, ~2.3 million square foot mixed-use development located off of Georgia 400 and Old Milton Parkway
500,000 square feet of retail
300 room luxury hotel and conference center
700,000 square-foot Class A office and office lofts over retail
800 single-family homes and apartment homes
12-screen theater

Major Tenants

Regal Cinemas
The Inn at Avalon
Whole Foods

Brief Description

Once known as Prospect Park, what is now Avalon, came to a halt with the real estate crash in 2009. As the economy began its comeback, the property was acquired out of receivership by North American Properties with the intent to deliver a sustainable urban-like environment to suburbia. North American reached out RaCo to help with underwriting, predevelopment and planning based on Ralph Conti’s extensive experience with large scale mixed-used developments.

Challenges

Purchasing property out of foreclosure
Portions of site work were completed or under construction when the project came to a halt
Planning and the creation of a fully engaging Main Street. With no absolute “one size fits all" Main Street format, the challenge is programming and executing a sustainable vision.

RaCo Services Rendered

Underwriting
Predevelopment
Planning