Franklin/Gateway TAD
Overview
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. In support of private investment and revitalization efforts for Franklin Road, the City is expected to begin construction on streetscape and road improvements within the Redevelopment Area in the next three to five years.
A vision for redevelopment of the Franklin Road Corridor was developed in the, Delk Road LCI Study, 2003 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 areas 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. Challenges presented by the property 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 1970’s.
Redevelopment Opportunities
Large multifamily and commercial tracts are available for purchase on Franklin Road and can be viewed on the available properties page. For more information on redevelopment opportunities within the Franklin/Gateway TAD contact MRC staff.
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