A 118-acre development in Gwinnett County spearheaded by North American Properties has hit a major snag.
On Tuesday, the Gwinnett County Convention and Visitors Bureau announced it is pausing the Revel mixed-use venture in what could be considered the heart of Georgia’s second most populous—and quickly growing—county.
The Revel concept had promised a transformative amount of new development for Duluth, effectively a new mini-city along Interstate 85: about 300,000 square feet of retail, restaurants, and entertainment; 650,000 square feet of office space; a 340-key hotel; 900 residences; and some 275,000 square feet of green space.
“The venture was being developed in partnership with North American Properties Atlanta (NAPA), but both sides agreed to part ways as NAPA refocuses its efforts on other areas of its business,” reads a GCVB press release.
Gwinnett officials say they’re “committed to moving the project forward” after a new development partner is identified.
Meanwhile, per the release, the GCVB will stay on track with other projects around Duluth’s Infinite Energy Center, which Revel is expected to neighbor.
“The GCVB is nearing completion of the second parking deck on the property, while moving forward with an expansion of the Infinite Energy Forum and construction of the adjacent Westin Atlanta Gwinnett Hotel, which is being developed in partnership with Concord Hospitality,” according to the release.
NAP also recently parted ways with Boston-based developer GID, which is inching toward breaking ground on the $2 billion High Street mixed-use project at the Perimeter.
A GID spokesperson last month told Curbed Atlanta: “The two companies are focusing on their own project pipelines.”
Mark Toro, managing partner of NAP, said in a prepared statement about Revel: “This has been a very difficult decision for [his company]; however, our strategic realignment requires we deploy our resources in different ways as we create community with the repositioning of existing mixed-use destinations rather than new ground-up retail development.”
NAP is known for resuscitating and later selling Atlantic Station, building Avalon in North Fulton County, and buying Colony Square for an overhaul that’s now been four years in the making.
The company has also been active along the Atlanta Beltline’s Eastside Trail, most recently opening the trail-straddling Edge project early this year.