Doraville GM Plan Closed in 2008 to Remain......Closed!
Should this surprise us? Given the current state of the economy, who would start a development on 165 acres in the middle of a metro area where the housing market is....down.
The DeKalb County Board of Commissioners voted 5-2 to kill New Broad Street Companies’ deal to acquire and redevelop the former General Motors plant on 165 acres in Doraville, a small community located 11 miles northeast of Downtown Atlanta.
The plan called for the use of $36 Million in Federal stimulus dollars and $18 Million in interest, that would of been footed by a property tax increase to the residents of DeKalb County. EXCUSE ME??? Foreclosues, short sales, unemployment and now RAISE property taxes???
For once, I have to say, the elected Dekalb County Commissioners listen to their jobs walking out the door at the ballot box.
I've written a couple posts about the GM Doraville Plant, including the LCI Grant and another article back in 2008 when they were discussing the "Finalists for the GM Plant." and there is an incredible GM Redevelopment website as well.
While this is an incredible piece of property, it does NOT need to be developed at tax payer's expense, or at least NOT in this economy.
The GM Plant sits in a great location, depending on which direction you decide to look at it from.
POSITIVE: 165 acres, at the crossroads of two major Interstate highways, I-85 and I-285 (also referred to at the Perimeter); a MARTA rapid rail (ok, that's a stretch) train station adjacent to the property. Close by bedroom communities offer affordable housing to those that might work in the new development but not be able to afford the new home prices.
NEGATIVE: Doraville is a lack-luster small town in the middle of a big city that time forgot. (Thank the previous Mayor (may he rest in peace) or keeping the town "bottled up" instead of promoting new business and development. It's also 11 miles northeast of Downtown...making it a destination in itself...and a challenge to do just that.
Many people in the Atlanta area refer to an Atlantic Station-type development, but many people in Atlanta also think Atlantic Station missed the boat.
I hate to see this property sit vacant. But let's face it, the timing (at least at taxpayers' expense) is just not right.
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