Stockbridge shared new renderings of their downtown redevelopment plan in September. The plan would build new apartments and retail space within its historic downtown.
Before the plan can move forward, the city is looking to the county for its support on a tax allocation district. The TAD is an economic redevelopment tool not previously used in Henry County.
Stockbridge Downtown Development Plan
Stockbridge TAD & What is a TAD?
The city of Stockbridge began work to create a tax allocation district (TAD) in 2022. At the time, they hired a third-party consultant, KB Advisory Group, to prepare the TAD plan. The council adopted this plan in November 2022 (PDF link – 70 pages). Though the city approved the plan, they need the support of county officials before it can take effect. The school board may also agree to participate in the TAD.
Many readers may be wondering what is a TAD. It is a redevelopment tool which pledges future property tax collections towards the cost of upfront infrastructure improvements. The amount presently collected in property taxes will continue to go towards general operating budgets. Subsequent growth in tax revenue following redevelopment is then channeled to repay infrastructure bond debt.
There are some requirements what areas qualify to be in a TAD:
- the area must be an urban area, as defined by the US Census Bureau, or an area presently served by sewer service, and
Editor’s note: the Census Bureau considers areas as either urban or rural. They consider much of Henry County to be urban. - the area must be a “blighted or distressed area,” a “deteriorating area,” or an “area with inadequate infrastructure,” and
- counties or cities may place no more than 10% of the tax digest value within a TAD.
One example of a successful TAD is Atlantic Station in midtown Atlanta. The TAD covered the redevelopment of a 138-acre brownfield site following heavy industrial use. Today, a variety of mixed-use development occupies the area.
Stockbridge Downtown Renderings
Stockbridge City Manager Fred Gardiner shared updated downtown renderings to the city council on September 24. At the time, the council was acting in its capacity as the urban redevelopment agency. The renderings display various mixed-use buildings along East Atlanta Road. In addition, there would be new buildings along Burke Street. The project’s site plan was first presented in May 2024. It is reprinted below for reference.
East Atlanta Road
According to the project documents, there would be four new buildings along East Atlanta Road. They would add retail space and residential living.
The first building, immediately across the street from city hall, would be five-stories tall. The ground floor would be retail space with four floors above it for apartments. This building has 171 units. A five-story parking garage is also part of the building. It would be closest to the railroad tracks.
Moving further north along East Atlanta Road, two new buildings would be on either side of the road. They have three and four-stories, respectively. Retail / commercial space would similarly occupy the ground floor with residential units upstairs. The two buildings have 169 units total.
Finally, a three-story parking garage would be the most-northern building. Some retail space would be on its ground floor fronting East Atlanta Road.
Burke Street
Moving west across the railroad tracks, the city is considering new buildings along Burke Street. This area is referred to as “Old Town” in the city’s plan.
There would be three new buildings in this area. They are two and three-stories tall. The buildings would be mixed residential and commercial space. The number of proposed units was not listed.
Project Costs
The city is estimating the entire redevelopment plan would cost $326.4 million to build. This includes $259.6 million for the buildings along East Atlanta Road, or “New Town,” and $66.8 million for Burke Street. Stockbridge would be looking to partner with a residential / mixed-use developer to move these plans forward, if the TAD goes into effect.
The project would generate an estimated $4.9 million in annual property taxes. This does not account for any local sales tax revenue that new shops and restaurants would also generate.
Next Steps
Gardiner shared he is in discussions with the county about next steps. Before the TAD can move forward, it needs the county’s approval. The Henry County Board of Commissioners last considered the topic in May 2023. At the time, board members’ questions focused on when Stockbridge would enact a property tax. The council implemented a city property tax in fall 2023.
Stockbridge is similarly looking for the school board’s participation as well. According to Gardiner, the school district wants to wait and see what the county does before scheduling the topic for a school board meeting.
Featured image shows a rendering for new mixed-use buildings in downtown Stockbridge. EDT image commissioned by the city of Stockbridge.
