Franklin Gateway TAD
The Franklin/Gateway TAD was established in 2004 to facilitate development of major mixed-use projects along the I-75 corridor of Marietta. The TAD is intended to support redevelopment of more than 200 acres of aging multifamily property on Franklin Road and provide funding for infrastructure necessary to develop more than 50 acres of undeveloped and underutilized property located at the northwest quadrant of I-75 and Route 120. The city continues to work to identify development partners for Franklin Road and support the planning for future development of the gateway area.
Purpose and objective
A vision for redevelopment of the Franklin Road corridor was developed in the 2003 Delk Road LCI Study and may be supported by transportation improvements planned by the Georgia Department of transportation and Georgia Regional Transportation Authority for the northwest corridor including a bus rapid transit (BRT) station. Transportation improvements to the I-75 and Franklin Road corridor as well as the redevelopment area's proximity to the interstate attract ongoing developer interest in reuse of property surrounding the proposed BRT station. Concept plans have been developed through the LCI study and the northwest corridor project analysis and by developers with strong interest in undertaking the project.
Established in 2004 to support redevelopment in the Franklin Road and gateway redevelopment areas
Envisioned projects supportable by location and public/private partnerships within the approximately 324 acre area may include residential, commercial, mixed-use and transit-oriented development
Redevelopment projects have not yet been implemented in the Franklin/Gateway TAD. Changes in the districts property values may be contributed to natural growth and in some cases depreciation of real estate in the district. Challenges presented by the property in the Franklin Road corridor include its location within a 100-year flood plain as well as high property acquisition and demolition-related cost associated with redevelopment of apartments constructed in the 1970s. The city continues to assist with identification.
Identified potential opportunities within and adjacent to the TAD include large multifamily and a range of commercial, office and industry appropriate tracts fronting Franklin Road, Delk Road and South Marietta Parkway.
Redevelopment opportunities and resources
Large multifamily and commercial tracts are regularly available for purchase on Franklin Road. Real estate listings along with informational maps are provided below. For more information on redevelopment opportunities within the Franklin/Gateway TAD contact MRC staff.