Shopping Centers Today

DEC 2016

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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Page 109 of 143

110 S C T / D E C E M B E R 2 0 1 6 DESIGNSTARS New Developments Gold Award | Avalon | Alpharetta, Ga. Total Retail Space: 368,000 square feet Number of Stores: 70 t 2.3 million square feet and costing $600 million, Avalon is one of the most ambitious projects in Atlanta's history and has established a new standard for all experiential mixed-use projects. The center successfully transforms a mound of Georgia red clay and unfinished parking structures (leftover from a stalled pre-recession project) into the South's first "urbanburb" — a walkable, urban experience in a suburban setting. Located in the heart of Atlanta's suburb of Alpharetta, one of the most affluent cities in America, Avalon combines a carefully curated retail mix with the region's best chef-driven restaurants to assure commercial sustainability and energize the street. Since opening in 2014, Avalon's success has transcended traditional benchmarks for new development. Phase one combines more than 368,000 square feet of best-in-class retail (100 percent leased), 105,000 square feet of Class-A office (100 percent leased), 250 luxury multifamily residences (96 percent) and 101 single family homes. With an opening set for spring 2017, Phase two is under construction and will feature an additional 112,000 square feet of retail, 276 multifamily residences, a 250,000-square feet Class-A office tower and — coming in early 2018 — a 330-room Autograph Collection hotel and 65,000-square feet conference center. Since opening in October 2014, Avalon has become a mecca of shopping and dining and the center of the community, playing host to over 100 annual events that attract visitors, create memories and establish lasting connections to the property. Avalon's seasonal ice rink has seen five marriage proposals and couples have even come back to take engagement photos because of the strong affection for the property. The project has also radically altered shopping patterns and the culinary landscape for consumers in Atlanta's northern suburbs, with many retailers and restaurants continuously exceeding sales goals. ➽ DEVELOPMENT COMPANY: North American Properties OWNER: Prudential Financial DESIGN ARCHITECTS: Wakefield Beasley & Associates / Dwell Design Studio PRODUCTION OR EXECUTIVE ARCHITECTS: Wakefield Beasley & Associates / Dwell Design Studio MANAGEMENT/LEASING COMPANY: North American Properties FINANCE COMPANY: Eastdil Secured A

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