CUMBERLAND — The developer of a planned $100 million office and condominium project approved for the Cumberland area has asked Cobb County to sweeten the pot with tax incentives.
Atlanta real estate magnate John Williams, one of the nation’s most successful and influential developers, has filed paperwork applying for incentives such as waiving permitting and licensing fees and property tax abatements.
Williams, who founded Post Properties Inc. in 1970, has directed the development of more than $5 billion in real estate over his career.
He led the effort to build the $150 million Cobb Energy Performing Arts Centre, whose main theater is named The John A. Williams Theatre.
The Cobb Board of Commissioners approved earlier this week the $100 million multi-use development containing 236 condos, 14 three-story townhomes and a 10-story office building containing 200,000 square feet of space. The 7-acre site sits at the intersection of Cobb Galleria Parkway and Cumberland Boulevard.
Construction could begin as soon as the project receives approval with a targeted finishing date of spring 2015. Condos and townhomes will be rented until market conditions trend more toward sales.
The project is being developed by Riverview Office LLC, owned by Williams. It doesn’t yet have an official name but is using “Riverwalk” as its working title.