Decide DeKalb Development Authority Approves $70 Million in Market Square Tax Allocation District Funds in Support of the Lulah Hills Development
DEKALB COUNTY, GA (Nov. 10, 2023) — The Decide DeKalb Development Authority board unanimously voted for the Lulah Hills Pay-As-You-Go program within the Market Square Tax Allocation District (TAD), driving $70 million in infrastructural improvements to North DeKalb Mall and a total investment of $842 million to the tax digest.
Lula Hills is comprised of 76.1-acres and the developer of the project is EDENS.
A TAD is a financial tool to redirect new tax revenue to promote economic development in underdeveloped or blighted designated areas. For the Market Square TAD, funds will support the renovation of the underutilized/vacant mall and supporting storefronts in anticipation of a thriving mixed-use community. The Market Square TAD can also be used for public improvements such as trails, greenspace, and community gardens which will be incorporated into the project. Upon completion, Lulah Hills will include 320,000 square feet of retail space, 1,700 multifamily units, 100 townhomes, and 150 hotel keys.
DeKalb County CEO, Michael Thurmond stated, “The establishment of the Market Square Tax Allocation District represents a significant milestone in our mission to create sustainable economic development and vibrant communities in DeKalb County. We are excited to work collaboratively with Decide DeKalb, our partners at EDENS and county stakeholders to bring about positive change in the North DeKalb Mall area.”
Highlights of the Lulah Hills Development:
- Infrastructure Improvements: Critical infrastructure enhancements such as utility relocation, street grid construction, storm water quality, and mall demolition as well as community green spaces, to support increased accessibility and connectivity in the Mall area will be included.
- Mixed-Use Development: The creation of mixed-use developments with integrated 10% workforce and affordable housing, and blending commercial, residential, trails, and gardens to foster a vibrant, inclusive community environment are priority
- Economic Growth and Job Creation: By attracting new businesses and industries, the Lulah Hills development estimates creating 3,000 construction jobs (1,500 full-time and 1,500 part-time) and 1,400 permanent jobs (840 full-time and 560 part-time).
DeKalb County Commissioner Michelle Long-Spears said, “Ensuring dedicated greenspaces and trails within our community is something I’m passionate about and something I’m thrilled to see be included in this project. Lulah Hills will not only be a destination for all to enjoy, the walking trail and garden will be an enhancement to residents.”
President Dorian DeBarr concluded with, “Decide DeKalb is thrilled to utilize this TAD in a meaningful and purpose-driven way for the Lulah Hills development. The infrastructure improvements being proposed for the project are transformative for economic progress and growth and the $70 million Pay-as-you-go financing allows for eligible project costs incurred by EDENS to be reimbursed over a period of 15 years. This project is a win for DeKalb County and a win for the region.”