City proposing two new TADs for Midtown redevelopment (Atlanta, Columbus: movie theater, tax)

[Airforceguy]

I think its great that city is proposing two new TAD's. The more development Midtown experiences, the better the city will be in the long term.

The West district is the larger of the two, covering 942 parcels on about 325 acres. It is intended to support the development of higher density mixed-use commercial developments along Wynnton and Buena Vista Roads, 10th to 13th Avenues and Five Points, where 13th Avenue, 17th Street and Linwood Boulevard intersect.

The East district includes 61 parcels totaling 93 acres, and is proposed to support further commercial revitalization along the Macon Road Corridor in the eastern section of MidTown near Exit 6 of I-185. It is intended to support future commercial infill development surrounding the Cross Country Plaza and MidTown Shopping Centers.

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Anne King, executive director of Midtown Inc., said her organization has been working with the city since the beginning of the year to create a Midtown Redevelopment Plan and the two TADs.

“We‘ve worked with city staff, property owners, potential developers and other stakeholders,” King said. “We believe creating two tax allocation districts can provide key financial incentives that will accelerate the pace of Midtown redevelopment.”

Ken Bleakly with the Bleakly Advisory Group, an Atlanta consulting firm, addressed Columbus Council last week during a public hearing on the proposed TADs. He said he didn’t see huge projects coming out of either Midtown TAD, but rather many smaller “in-fill type projects.” But he did say his firm estimates a significant return on an initial TAD investment.

“We estimated, looking at several of these areas, you could see up to $80 million of investment in these two TAD districts if there were an initial investment of about $7 million in TAD funding,” Bleakly said. “If we can stay anywhere near that ratio, we estimate that for every TAD dollar the city would provide in incentives, you would get about $11 in private investment.”

Read more here: City of Columbus proposes two new Tax Allocation Districts to boost Midtown redevelopment | Columbus Ledger-Enquirer

City of Columbus proposes two new Tax Allocation Districts to boost Midtown redevelopment | Columbus Ledger-Enquirer

[Fountain-of-youth]

Midtown is what makes Columbus....COLUMBUS. lol

The uniquest of its landscape.

[JayHey]

City Council approved the TAD for Midtown West district and is delaying the decision for Midtown East district until more information can be gathered.

Council approves one Midtown TAD, postpones decision on the other | Columbus Ledger-Enquirer

[Fountain-of-youth]

Originally Posted by JayHey

City Council approved the TAD for Midtown West district and is delaying the decision for Midtown East district until more information can be gathered.

Council approves one Midtown TAD, postpones decision on the other | Columbus Ledger-Enquirer

Good decision.

Would love to see another grocer and more local bossiness in Midtown West. With Midtown East,which is already booming with growth,I think an AMC branded movie theater can top it all off.