A major mixed-use development project backed by Atlanta Falcons star Julio Jones might be in for some shrinkage.
Initially pitched in 2016, “Ariston”—named after the Greek word for “the best”—was supposed to bring a $180 million mix of restaurants, retail, and residences, as well as hotel and office space offerings, according to the Atlanta Journal-Constitution.
The project is still slated to be developed on a 16-acre pie of land near the intersection of Woodward Crossing and Mall of Georgia boulevards, although the scale of the project has been dialed back substantially, according to documents filed with Gwinnett County’s planning department discovered by the AJC.
The original plans billed the development, led by Ivy Creek Partners, as a “mixed retail, office, hotel, and residential” development. Recent documents, however, merely call it a “mixed-use,” likely signaling planners won’t be able to fulfill all of their early promises.
Instead of introducing 541 new apartments to the area, as was previously projected, Ivy Creek is now aiming to max out at 285 units.
The updated documents also show that plans for a 25-story hotel concept—which would have been Gwinnett’s tallest building—have been whittled down to a four-story project, the newspaper reported.
Other downsizing efforts include, among other things, nixing all plans to provide parking spots—more than 2,000 spaces were initially expected—and boiling down 162,000 square feet of retail, 76,000 square feet of office space, and 50,000 entertainment center into a meager 100,000 square feet of “commercial space”—including the hotel.
Jones is the principal investor for the Ariston development, and Jon Guven, of Guven Fine Jewelry, is also helping fund it.
The plans are set to be discussed at the July 9 meeting of Gwinnett’s planning commission.
- Julio Jones’ Mall of Georgia project may be scaled back significantly [Atlanta Journal-Constitution]
- Julio Jones an investor in massive development near Mall of Georgia [AJC]