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Grand-scale Prospect Alpharetta site to BYLINE: Uuuanna Varela A huge swath of cleared red dirt along Old Milton Parkway is destined to become a minicity with unique shops, an upscale hotel, high-end condos and Class A office space. Developers of the 67-acre site near the northwest corner of Old Milton and Ga. 400 say it will set a new standard for luxury in Alpharetta. Among the goodies at Prospect Park -- a boutique hotel that developers say will offer "5-star plus" amenities including butler service. Hal Thannisch of Thannisch Development Services said that corporate executives who visit Alpharetta have to travel to the Perimeter area or Buckhead to find luxury accommodations. The new hotel, The Stanbury, will keep them from having to make the drive, he said. It also is being designed as a destination for weddings and other special events for residents across the Northside. "Alpharetta is affluent and we want the money to stay in Alpharetta rather than be spread around Atlanta," Thannisch said. The estimated value of the development is $350 million and it is expected to generate $2.5 million a year in local tax revenues, according to documents filed with the state. The architecture of the hotel and condos, dubbed The Stanbury Residences, is a blend of European and Southern country manor touches. The hotel's five low-rise building will partially enclose a 1-acre front lawn that can host events. A glass, steel and wood conservatory behind the hotel -- now under construction in the United Kingdom -- will be the focal point of a 2-acre garden that Thannisch said will rival most botanical gardens in the metro Atlanta area. It will be designed to host events with up to 1,000 guests. "We call it cover material for bridal magazines," he said. Three residential towers behind the hotel will offer condominiums starting at $1.5 million. A walk out the front door of the hotel will lead to a pedestrian Main Street that will feature valet parking, boutique shops, white-table restaurants and office space targeting professionals such as architects and attorneys. Kevin Case, senior vice president of development for Thomas Enterprises, which will be the owner and operator of the hotel, said everything in Prospect Park is being designed to create a Northside destination. "We don't really want to be able to compare this to anything," he said. The developers say the project should mesh well with Alpharetta's plans to redevelop downtown into a new live/work/play destination including a park with a town square feel. They say both projects will give people more reasons to come into town, rather than go into Atlanta for shopping and entertainment. Case and Thannisch said that about 60 percent of the retail space in Prospect Park is in negotiation with possible tenants, but they're not ready to name any of them yet. The Alpharetta City Council approved the mixed-use development last year. One of the city's conditions requires the developers, led by Thomas Enterprises, to extend Westside Parkway between Webb Bridge Road and Old Milton Parkway. The council also limited the developers' ability to lure existing businesses from North Point Mall and other shopping centers in Alpharetta. Prospect Park will be allowed to rent no more than 15 percent of its space to retailers already in the city until 2016. Case and Thannisch said that won't be a problem. They said they are trying to land ultraexclusive retailers who don't have a presence in the metro area, or who may only have locations at Phipps Plaza or Lenox Square in Buckhead. Alpharetta officials are enthusiastic about the project. James Drinkard, the city's economic development coordinator, said it's probably more important for what it can do to enhance the city's image than because of the tax dollars it will generate. "This is a one-of-a kind project. I think when folks see this, it's going to establish a new bar," Drinkard said. "I think, more than anything, it's image and it's providing our residents with shopping choices and lifestyle choices that aren't currently here." Prospect Park • A "5-star plus" boutique hotel. • 82 luxury condominiums. • 750,000 square feet of retail space with an emphasis on upscale shops and restaurants designed around a pedestrian "Main Street." • Multiplex cinema. • 350,000 square feet of Class A office space. • Large public areas and gardens that can host weddings, concerts and other special events. • 143 guest rooms, with the typical "standard" room at 525 square feet. • A 14,000-square-foot "destination" spa. • A 1,500-square-foot conservatory that will be the centerpiece of a 2-acre botanical garden. • Butler service for each room. • Three culinary suites with full kitchens that can be used for dinner parties or other "epicurean adventures." • Condos starting at $1.5 million and topping out around $2.3 million. • The two- and three-bedroom units will range from 2,600 to 3,900 square feet. • The 82 condo units in Phase 1 will include private outdoor entertainment areas with fireplaces and summer kitchens. • Residents will have access to concierge service, catering, laundry and other services through the hotel. • A full-sized, furnished two-bedroom condo and a standard hotel room will be available for walk-through at the sales center scheduled to open by Nov. 1. -- www.prospectparkonline.com
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