The Peachtree Corners city council recently approved two changes in conditions to the residential development planned for the 115-acre property on the former Fiserv site bordered by East Jones Bridge Road and the Chattahoochee River. The key change allows a portion of the residential unit types to be exempt from the 55+ age restrictions. The second change allows more flexibility as to when the independent living or assisted living/memory care facilities will be constructed. It stipulates that no more than 450 residential units can be completed prior to construction on either one of these facilities.
“We know this residential development is very important to the community,” said Mayor Mike Mason. “However, without being flexible this change on the age restrictions, it was entirely possible that the developer would not be able to secure funding. The condition changes only apply to about one third of the units which will be constructed in the first phase. The vast majority of the units will remain 55+ age-restricted.”
To ensure that the property remains a senior-living oriented community, the city added three additional restrictions regarding community amenities and prohibits school buses on all private streets within the development.
“The developer had prepared the site for construction before the pandemic,” said City Manager Brian Johnson. “It was only after the coronavirus that they came to the city asking for flexibility. The impact of COVID-19 on senior communities have caused uncertainty and unrest among the industry in terms of financing for institutional projects (such as assisted living and long-term care units) as well as the comfort of aging adult to move into an exclusive 55+ community.”