Formal offers on table for Jonquil Village
Smyrna residents remain hopeful a modern grocery store finds a home at the long-stalled development project at the corner of Atlanta and Spring Roads.
Photos
Owners of the Jonquil Village development project could be a week away from taking an offer that could finally decide the fate of the stalled project that was originally slated for a spring 2009 opening.
According to attorney Ted Sadler, who represents the owners of the 14-acre property, Todd and Cheri Maxwell of Lakeland Fla., four offers to purchase the property have been formally submitted.
Two additional offers to purchase outparcels of the property along Atlanta Road have been made, as well.
For several years, Jonquil Village had been owned and developed by Century Retail Corporation out of Lakeland, Fla. The $185 million mixed-use project was originally to include 30,000 square feet of office space, 160,00 square feet of retail space along with 300 condominiums and 1,300 deck and surface parking spots.
Century Retail had reportedly invested $17 million of its own money into the project before it stalled due to the struggling economy and the difficulty of retaining construction financing in a tight financial market.
In December, Todd Maxwell, chief executive of Century Retail Corp., essentially foreclosed on himself when he took over the property. The Sembler Company, a St. Petersburg, Fla.-based multi-state real estate developer, signed a contract for the property in March, but that contract was never fully executed.
The Jonquil Village property extends northward along Atlanta Road from Spring Road. With no grocery store in operation along Atlanta Road from the Marietta Square to inside I-285, city residents have eagerly awaited an official announcement that a long rumored Publix will be built at Jonquil.
Sadler confirmed that two of the potential developers are indeed “Publix approved” developers, meaning the popular grocery chain is still a good possibility.
As for the other two offers, Sadler said they have been made by local developers and, at the moment, his clients aren’t sure of their intentions with the property. At the moment, Sadler said he is advising his clients on the offers as they learn more about the local developers’ plans and talk with their representatives.
A final decision could be made as soon as one to two weeks from now. “We are just making sure we understand all the offers so we can make an educated decision on which one to accept,” he said.
Another reason for the waiting period is the fact that several other developers are expected to make offers soon. Sadler said that the other potential developers include another that is Publix approved and has done a lot of work in the Atlanta area, as well as an unnamed supermarket developer. As of now, the name of that supermarket has to remain confidential, Sadler said.
But while there’s still a good possibility a grocery store is coming, the condos will not. At this point, the marketing has been for a one-level, in-line retail center with some outparcels along Atlanta and Spring Roads. Century had already done some construction work on the site, but it now appears the massive hole that was created for the subterranean parking deck will be filled in.
If the property owners accept an offer, Sadler said there would have to be a due diligence period of 120 to 150 days before the property would be officially closed on.
So far, Sadler said the Maxwells have had the offers on the table for two weeks but that they are feeling good about the outcome. Sadler explained that the number of offers coming in on the property is certainly a good sign.
“We’ve been fortunate in that regard,” he said.
- Hunt Archbold contributed to this story.
s
4:14 pm on Wednesday, September 7, 2011
Todd and Cheri Maxwell are from, and reside, in Lakeland FL.....not Smyrna, GA. It's fortunate that there are offers, yes, but unfortunate that any developer in their right mind thinks that there is a need for that much new space in Smyrna. Getting Publix to agree to an additional 10,000-12,000 square feet of additional retail would be ideal, but then the developer can't make money because Publix doesn't pay enough rent to make the land cost make sense....see where this is going???
Hunt Archbold
5:22 pm on Wednesday, September 7, 2011
A correction as to where the Maxwells reside has been made. Thank you.
Rio
9:00 pm on Wednesday, September 7, 2011
I will be very excited once a deal is sealed and we see construction begin again. Just the fact that they have several offers coming in is great news. Please keep us updated, Patch!
David
8:52 am on Thursday, September 8, 2011
With the new gigantic Kroger set to open only 2-3 miles away at S Cobb and Concord, and several nearby Publix (East-West Connector, Paces Ferry, Windy Hill...) we don't need another regular grocery store. What we need is a Whole Foods. The closest one is over a half hour away, and it seems like there would be a big market (pardon the pun) for that kind of place in Smyrna. It would also make our area more attractive to potential new residents compared to yet another standard grocery store. Though at this point I'd be happy to see anything going on at that site
Schitzngrins
11:15 am on Thursday, September 8, 2011
I'd love a Whole Foods, "wanting one" is simply not enough. A site plan would need to be submitted and approved based on WF's basic criteria for new store development, and even if JV meets those basic criteria there's no guarantee WF would pull the trigger on the deal. It's up to them, not us. Of course, if enough residents petitioned for the store and developers could take that information to WF, I'm sure that would be a significant influence. That being said, like Skiime, I think Belmont would be a better location...and I think it could coexist with the other grocery stores.
Skiime
9:16 am on Thursday, September 8, 2011
Sorry David, there are many people wanting a Publix built at that site. The Williams Park neighborhood needs a local grocery store. I think Belmont Hills (if it ever gets built) would be a better location for a Whole Foods.
Donna Short-Woodham
3:59 pm on Thursday, September 8, 2011
The description of the virtual jonquil shopping center is the same description as the old jonquil shopping center. Smyrna has an overabundance of strip malls. Is this is what the city officials have been waiting for? Building a duplicate strip mall. A strip mall should not be seen as a victory for our city officials, what needs to go at that site is white collar and blue collar jobs that pay a living wage. Please take a drive to Piedmont road in Buckhead. This is the area Smyrna officials should be following. The Peidmont rd and Peachtree rd area is a mix of office and suburban, that has kept its community feel. The design of the office park 3525 Piedmont rd would be perfect at Jonquil. The office park is not a skyscraper. It has a school and a barber shop on the bottom level. It also has a walking trail around the building. Every block north south east west near 3525 Piedmont office is live, work, play oriented. I shop at the Lenox rd. Trader Joes, which is just around the corner from Piedmont rd. The jonquil property needs office/manufacturing when designed will attract companies that will pay its employees well. Then maybe the companies that own Traders Joes and Whole Foods will start to notice Smyrna. The Jonquil property is privately owned, but if the city officials could set their sites higher maybe Smyrna would get something beside another strip mall. Vote Smart. Vote Donna4Mayor. Long term Smart development now. We have too many empty strip malls.
Schitzngrins
4:55 pm on Thursday, September 8, 2011
There are so many problems with your post that I don't know where to start. I'm beginning to think you believe Smyrna can be run like a SimCity simulation.
kathleen obrian
12:49 am on Friday, September 9, 2011
it would be nice if there were a place for folks to go like a family park setting with perhaps putt putt golf , go cart tracks , movie theater and maybe a indoor heated pool , just a thought and thank you patch for your excellent reporting on current events , & best wishes to all for a great friday and weekend :)
Inside-Out
4:24 am on Friday, September 9, 2011
What a wonderfull post Kathleen and some excellent ideas. I, as well hope you have a great weekend.
Donna Short-Woodham
8:01 am on Friday, September 9, 2011
I stand by my comment. Take a drive in Buckhead, or better yet go tell the Buckhead folks they don't understand basic development economics. Tell Norcross Mayor Johnson the same thing.
Schitzngrins
4:21 pm on Friday, September 9, 2011
Donna, you've mentioned Norcross several times as a development model for Smyrna to follow. Well, I've worked within the Norcross city limits, and within a mile and a half from downtown Norcross for the last 4 years. You may stand by your comments, but I stand by this comment...if you want Smyrna to follow Norcross, then that's the only reason anyone needs not to vote for you (though there are others).
I'll grant you that downtown Norcross is a nice area. It's got a cool little (emphasis on "little") downtown w/some parks, shops, restaurants and municipal buildings, all flanked by some nice older homes. However, most of this stuff exists here b/c it most likely would not exist elsewhere in Norcross. Downtown is small, isolated niche that is flanked on all sides by a weird, unappealing mix of office, distribution/warehouse and light industrial space. And all of this is sandwiched between Peachtree Industrial Boulevard and the abomination that is Buford Highway. If you didn't know what you were looking for, you'd drive right by. Norcross is not a destination, it is a pass-through to Duluth and Johns Creek.
Hunt Archbold
9:57 am on Friday, September 9, 2011
Thanks Kathleen, you, too. :)
Inside-Out
2:57 pm on Friday, September 9, 2011
Donna, How can you compare the city of Smyrna to Buckhead ? Are you not aware that most of the things in Buckhead are supplied by the Buckhead coalition ? The Buckhead Coalition is an organization of business and civic leaders, mutually interested in nurturing the quality of life in this community. Sounds good, but funds are put into the area by its' membership. It was incorporated August 30, 1988 and assesses annual dues of $6,250 per member. It is a not-for profit civic association under Section 501(c)(4) of the Internal Revenue Code. Are you suggesting that we do something like that in Smyrna ? Is that really something you are expecting for Smyrna. You are wanting to mix manufactoring in the Jonquil Village ? You say that you do a lot of your shopping in the Buckhead/Lenox area. You are one of the reasons that businesses are not surviving in Smyrna. I would like to know what volunteer organizations you are associated with in Smyrna ? What boards are you now or have you sat on in the past ? Other than showing up at a few city council meetings I have never seen you at local functions. In the last ten years what have you done for this community that should make me want to vote for you ? Sitting around complaining and dreaming up wild ideas don't count.
Kev
2:35 am on Monday, September 12, 2011
Isn't there already a "whole foods" type grocery store on spring road near campbell?? And i'm fine with any grocery store that's not named Food Depot or Walmart. How about an Ingles? I've always wondered why we don't have any of those in cobb county?
Mike
12:14 pm on Wednesday, September 14, 2011
Kev, that is an International Farmers Market, not a whole foods. At first I wanted a Whole Foods and if there was one built I likely would shop there but its not a NEED. We have enough grocery stores as it is IMO and we shop at most of them, including CVS, Rite Aid etc.... I am puzzled why another Publix is needed as as someone stated the 2nd largest Kroger in GA will be at S.Cobb/Concord.
Not sure why a live/work/play wouldn't be built. Another retail shopping center is just that, anything that is full of sameness all across America. With the wonderful Smryna Village so close, it is an opportunity to build something SPECIAL. Something that could get national attention and be seen as the future. Something to connect Smryna Village to that big intersection.
Honestly even the medians are just that, medians. What would have been awesome is a Smryna Shuttle, running from the Village to the front of neighborhood stops to stores etc. That would get people off the road and have people mingle more at the Village.
I am happy that hopefully that eyesore will be completed but the original plan at least was kind of exciting. A one level retail development makes me yawn.
Schitzngrins
12:50 pm on Wednesday, September 14, 2011
Well, LC, I'm not sure who you're talking about. Everyone on this site wants to improve Smyrna. They're obvious disagreement on what constitutes improvement, but the main dividing line seems to be everyone's general outlook on Smyrna. On one side you have people who believe Smyrna is a nice place to live, that improved a great deal over the years and continues to improve as part of an on-going process, and on the other side you have those who believe that Smyrna is a declining $#!&hole that continues to go down the tubes. From the few posts you've written, you seem to fall into the latter camp. Of the 2, which do you think is supporting Smyrna, and which do you think is apologizing for it? Thank you for your informative and constructive post. It really adds to the debate.
Kev
5:55 am on Friday, September 16, 2011
Chris, I think there's the parts of Smyrna that are nice and that the "higher ups" use to flaunt how great the city is. But then there's the parts that are "not so good" as you put it that they just seem to ignore and not work on. The problem is that this scenario is similar to an infection. If you don't stop the infection it spreads. I want to believe they're working on fixing the not so good parts of Smyrna, but only time can tell!