An online report posted by the Barrow Journal calls a company seeking the annexation and rezoming of property into the city of Statham "controversial."
According to the Barrow Journal, Walton International is a Canadian-based land investment company that purchases raw, undeveloped land and resells it in small “units” to mostly Asian investors.
Click here to read the newspaper's full online report.
Walton Development & Management submitted the following news release to Barrow Patch, which is posted in its entirety.
Walton Development & Management submits mixed use project for annexation & rezoning
Walton Development and Management (WDM) submitted the 360-acre One University Parkway (One University) project to the City of Statham, GA for Annexation and Rezoning.
One University is a proposed mixed-use development comprised of retail, light industrial, office, institutional and residential located at Georgia Highway 316 and Wall Road. The project offers the opportunity for education facilities, as well as, hotel space. The developed portion will, over a projected 10-year build out, feature a 20 acre central park. Twenty-percent of the project will be designated as open space consistent with WDM’s commitment to sustainable, environmentally sound, smart growth development.
The project land uses are tied together by a central golf cart path as envisioned in Statham’s Master Plan and by a parallel collector road to Georgia Highway 316 as envisioned by the Georgia Department of Transportation.
The proposed project will be entitled with maximum flexibility that will allow WDM to develop One University to meet changing market demands. Plans are to develop the project in multiple phases which will allow for infrastructure expansion to accommodate projected growth in the area.
Upon completion, One University will complement the City of Statham by serving as a central commerce center.
“Our goal is to create a vibrant sense of place along the growing University Parkway corridor,” commented Walton Vice President, Paul Beidel, who is based in the company’s Atlanta office.
One University Parkway will have a tremendously positive impact on the Northeast Georgia economy. With nearly 2 million square feet of commercial and light industrial space, 506 residential units and over 300,000 square feet of office or institutional buildings, One University Parkway is projected to be valued at over $357 million, based on today’s real estate development prices and dollars. One University could potentially reap over $4.8 million in annual property tax revenues. Sales tax generated from the retail space is projected to add another $2.5 million.
The proposed project has the potential to add much needed jobs in the region. Projections demonstrate that 4,300 permanent jobs could be created by businesses occupying the commercial and a portion of the residential development, in addition to the 4,700 temporary construction related jobs.
The City of Statham is experiencing growth with the addition of the Dollar General Market, currently under construction, the opening of the National Guard Armory Reserve Center and the construction of the new Statham Middle School.
“The area where we propose to build One University Parkway is a logical investment for Walton,” added Beidel. “The 316 business corridor is poised for growth as Georgia’s economy continues to rebound. State and local leaders have invested tremendous resources to attracting businesses in this area that will provide quality, high-paying jobs for residents. This is an investment in the future of Statham and Barrow County that is good for our company, for Statham and for Barrow County.”
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