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December 09, 2021 City Council Regular Meeting
46. Approval of a Development Agreement with CCC President Street LLC for the development of Felicity at Perry Lane, a 290-unit apartment complex located at 1947 E. President Street.
Strategic Priority

CCC President Street LLC is planning to develop The Felicity at Perry Lane apartment complex on approximately 9 acres located at 1947 E. President Street that City Council unanimously re-zoned to multi-family development (RMF-35) on July 23, 2020. This 290-unit apartment complex will feature 181, one-bedroom units and 109, two-bedroom units and include an amenity package that features a clubhouse, leasing center, fitness center, pool and more. The site to be developed is a former unauthorized landfill encumbered by a consent order governing clean-up as cited by the Georgia Environmental Protection Division. The project is a Brownfield site and the developer plans to clean up the site pursuant to the Brownfield program. The site is also located within an Opportunity Zone so it is  designated to attract new investment and development into targeted areas. This apartment complex is situated at the eastern gateway to the City historic district within an existing tax allocation district. The project offers many benefits to the City, including: 1) the developer will clean up an unauthorized landfill, 2) the developer will add new housing units near the urban core, 3) the project is located at the eastern gateway to the City,4) the developer will pave and improve the City’s Normandy Road right-of-way at a cost of approximately $2 Million to provide access to the parcel (and other parcels in the areas), 5) the developer will grant 1.015 acres of land along with a 0.53 acre easement to the City for the future expansion of the Bilbo Canal drainage project, and 6) the project will add value to the tax roll, invest in an underserved area, and contribute toward the existing tax allocation district.



David Keating, Senior Director of Real Estate Administration
Financial Impact
Review Comments
Exhibit 1: Development Agreement - CCC President Street LLC.pdf
Agenda Plus