Page 14 - The City of Smyrna GA 2019 Annual Report

DEVELOPMENT - BELMONT AND JONQUIL BELMONT (SPRING/SUMMER 2019)
• The 40-acre mixed use development is nearing completion with only one small parcel (about 1/3 acre) remaining.
• Phase 1 – 141 homes (153 total) of the Village at Belmont have been sold and four homes are currently under contract with three under construction. Average home price is $425,000.
• Phase II – (59 homes) of the Village at Belmont – most of the site work has been completed with 12 homes under construction and five under contract. Average sales price is $405,000.
• Phase I Shops of Belmont – construction of tenant improvements to the 30,000 square foot Belmont Physicians Center building complete.
• The Halpern Enterprises/Belmont Hills construction of tenant improvements to the 30,000 square foot Belmont Physicians Center building is complete.
• Emory Healthcare occupies the entire first floor. Only 2,500 square feet on the second floor remains to be leased. Atlanta Children’s Dentistry, Gentle Care Family Dentistry, and Cobb Pediatric Associates are all open and receiving patients.
• Phase II of the Shops of Belmont – pre-leasing activities have started. Construction of the buildings (13,600 square feet) and related parking lot is almost complete. Exterior work on the retail building is nearing completion.
• Real Subs – occupies approx. 2,100 square feet. F45 Gym has opened in a 2,400 square-foot space. Your Pie and Gourmet pizza are now open. There are six quality eating establishments in Belmont – only two remain unoccupied.
• Belmont 400, a 272-unit luxury apartment community remains fully leased at 95%.
• Belmont was presented with the ARC’s Development of Excellence Award for
Exceptional Merit for Suburban Retrofit in 2016. JONQUIL
• The 12-acre redevelopment project is located at the intersection of Atlanta Road and Spring Road and was approved in August 2015.
• Halpern Enterprises, owner and developer of Belmont is also the owner and developer of the Jonquil Project –A coordinated tenant mix between the two developments.
• 266 luxury apartment units
• A full-service 46,000 square-foot Publix food store (opened in December 2016)
• 2,100 square feet of specialty retail - 100% of the retail spaces are leased.
• The SYNC Jonquil apartments started leasing approximately just over one year ago with 255 units of the 266 (95.7%) having been leased and 254 units (95.5%) currently occupied.
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