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|August 13, 2020 City Council Meeting|
44. Denial of a Request to Declare Surplus 1425 West Gwinnett Street – Petition #200128
Petitioner Warner Moore has requested that the City-owned property located at 1425 W. Gwinnett (PIN 20050 16022) be declared surplus and available for sale. The request has been reviewed and Real Estate Services recommends denial of the petition because it is premature to sell the property at this time. Values and development potential of real estate in the Canal District should increase significantly over the next few years as the City completes and opens the new arena, and as redevelopment commences on more prime located parcels. Therefore, Real Estate Services recommends this property be held off the market for a few more years and sold later as the emerging redevelopment market matures and after the negative market impacts of the COVID crisis begin to recover. Recommend denial of the petition.
David Keating, Senior Director of Real Estate Services
Exhibit 1: Map - 1425 W Gwinnett.pdf