324/Gravel Springs Road interchange on I-85 will help traffic flow in the area, said Joe Sorenson, spokesperson for the county. There will be an estimated 36,000 trips in and out of the development each day, roughly equal to the trips generated by the mall, Fuqua estimates. A tax allocation district, or TAD, freezes property tax values for a number of years, allowing developers to use would-be tax dollars to fund their projects. While the developer didn’t receive any tax breaks for the project, the county created a tax allocation district for the Exchange. If we can have opportunities like we have with these new employers, that’s what we’re after.” “We know just coming through a pandemic, there are so many people who really want to get back to work. “This is going to enhance what’s already there in this particular area,” said Gwinnett County Board of Commissioner Marlene Fosque, whose district includes the Mall of Georgia area. The developer projects bringing in about $9.4 million in annual tax collections, employing nearly 2,000 people with full-time jobs and hiring about 1,500 construction workers during build-out. Gwinnett County officials expect the Exchange to give an economic boost the already booming area around the Mall of Georgia. The development will also offer a Homewood Suites by Hilton hotel, Sprouts grocery store, 18-kitchen food hall, dozens of chain and local restaurants, office space and entertainment venue. An Andretti Indoor Karting and Games will open next door. Top Golf will open near to I-85 by the end of April. Chipotle, Les Mains Nail Bar, Starbucks, Thrive Affordable Pet Care and the largest Rooms to Go in the Southeast have already opened, the first of about 70 businesses that will open over the next 18 months.
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The Exchange still has a ways to go before full completion - the first 400 residential units won’t be finished until the end of the year - but it will happen rapidly, Fuqua said. Everybody wants to be around the action, and we’d probably even intensify this project over time.”įuqua said construction started in December 2019, with crews blasting rock for a full year before building commenced. “Once you start something, it really draws everybody else.
“There’s really no property left in the (Mall of Georgia) corridor anymore because people want to be here,” Fuqua said.
Already in the works are other apartment complexes behind the Exchange and a large Northside Hospital medical facility across from the development.
“This creates an urban hamlet in what’s more of a suburban market.”įuqua and county officials predict the Exchange will attract further development near the already retail-heavy Mall of Georgia area and across the county. “What’s big in the business now is suburban with place,” Fuqua said. A few years ago, he chose a mixed-use development - his company’s specialty - because it will keep residents on site rather than hitting the highway to another destination. Jeff Fuqua, founder and principal of his namesake development company, said he has pondered what to place on the land since the mall opened. In an area already considered a retail destination, The Exchange at Gwinnett is styled as a walkable city surrounded by suburbia where residents and visitors can shop, eat and entertain themselves.
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