CONSTRUCTIONAPPROVED

City of Sandy Springs Awards Construction Contract to 6150 Sandy Springs Owner Llc (July 2025)

Sandy Springs Development Authority approved an agreement with 6150 Sandy Springs Owner, LLC, the developer of the Hillcrest Mixed-Use Project, to construct 111 parking spaces for City use and issue a ten-year property tax abatement. The financial investment is capped at $4,877,333 with safeguards for cost overruns and a buyout provision of approximately $6,624,000. The term includes a 50-year parking easement, annual reimbursement obligations, and dedicated funds for road and streetscape improvements.

Status
APPROVED
Document date
July 29, 2025
Contract type
CONSTRUCTION
Vendor
6150 Sandy Springs Owner Llc
Agency
City of Sandy Springs · GA

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Construction investment capped at $4,877,333 ($3,312,000 for 111 parking spaces), 3.5% development fee. Buyout provision: about $6,624,000
Contract type
CONSTRUCTION
Contract term
Easement for 50 years; reimbursement/payment period aligns with ten-year tax abatement (50% year 1, decreasing 5% yearly); funds disbursed over 9–12 months construction; buyout and abatement over 10 years
Renewal date
2075-07-29
Renewal
The parking easement is for 50 years; tax abatement runs 10 years, with payments decreasing annually. The contract allows a buyout after 10 years at $6,624,000 (minus prior payments and revenue). Amendment possible if project costs change.
Document type
Minutes
Source document
Sandy Springs Development Authority Meeting Minutes July 2025

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the construction contract by City of Sandy Springs?

6150 Sandy Springs Owner Llc was awarded this construction contract by City of Sandy Springs, as recorded on July 29, 2025. The contract value is Construction investment capped at $4,877,333 ($3,312,000 for 111 parking spaces), 3.5% development fee. Buyout provision: about $6,624,000.

How much is the 6150 Sandy Springs Owner Llc contract with City of Sandy Springs worth?

The 6150 Sandy Springs Owner Llc contract with City of Sandy Springs is valued at Construction investment capped at $4,877,333 ($3,312,000 for 111 parking spaces), 3.5% development fee. Buyout provision: about $6,624,000, covering construction work.

What type of contract is this?

This is a Construction contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Sandy Springs Development Authority Meeting Minutes July 2025 (Minutes), dated July 29, 2025 from City of Sandy Springs. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does 6150 Sandy Springs Owner Llc hold?

6150 Sandy Springs Owner Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View 6150 Sandy Springs Owner Llc's profile

What is City of Sandy Springs currently buying?

Explore City of Sandy Springs's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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