Investors in new projects are facing challenges such as high-interest rates and increasing building costs. As a result, developers are seeking alternative sources of funding to make their projects feasible. It is becoming increasingly common for them to turn to local government agencies for assistance in closing deals.
According to the Atlanta Business Journal, Branch Properties has partnered with Invest Atlanta in hopes of securing tax incentives that will enable them to move forward with a project in Chosewood Park, located south of Atlanta. The proposed development includes a mixed-use complex featuring a 52,800-square-foot grocery store, four retail buildings totaling 27,000 square feet and a three-story parking deck. Branch Properties is currently negotiating with Publix as its potential anchor tenant.
Headquartered in Atlanta, this real estate firm specializes in developing and investing in shopping centers anchored by grocery stores throughout the Southeast region. In fact, earlier this year they successfully opened another retail center anchored by Publix located within Summerhill neighborhood.
This article discusses how an Atlanta-based developer is relying on incentives from local government agencies for their upcoming mixed-use project instead of traditional financing options due to current market conditions.
