Transaction will pave way for redevelopment in Gwinnett’s southern corridor

(Lawrenceville, Ga., March 26, 2024) – The Gwinnett County Board of Commissioners today set in motion the sale of the Stone Mountain Tennis Center site in unincorporated Gwinnett County to Fuqua Acquisitions II, LLC for approximately $5.6 million. The sale will open the door to the site’s long-anticipated redevelopment.

The County acquired the 26-acre property in 2016 as an opportunity to revitalize the underused site and stimulate redevelopment in one of the major gateways into Gwinnett County. Through a competitive solicitation process, the County partnered with Fuqua Acquisitions II, LLC, to redevelop the property.

“I am pleased that we have chosen a proven and well-respected partner to bring a quality development that will create economic opportunities while securing much needed affordable housing in this area of our county. I believe our patience and investment will pay off and will spur other redevelopment activity in the area,” said Hendrickson.

Last October, the land was rezoned for a regional mixed-use development that will encompass wholesale retail, four restaurants and multifamily residential, including 50 dedicated affordable housing units. The project is expected to create 520 permanent retail and dining jobs, and approximately 400 construction jobs will be created during the two-plus years the redevelopment will be in progress.

Community greenspace, transit enhancements and additional transportation improvements are amenities planned for the site.

“I am excited about this development and what it will mean for current and future residents to be able to access shopping, dining, and employment opportunities right in their backyard,” said Ku. “The addition of greenspace will also complement the proximity to Stone Mountain’s natural resources and make it a welcoming place to gather.”

Fuqua and its development partners will invest an estimated $158.8 million to redevelop the tennis center site. The sale to Fuqua Acquisitions II, LLC will place this property back on the tax digest generating significant sales tax revenue and property taxes as well as redevelopment funds for the Park Place Tax Allocation District.

“We are proud to be a part of the redevelopment of the former Olympic Tennis Center,” said Jeff Fuqua, Principal of Fuqua Acquisitions II, LLC. “We believe we put together a great mixed-use redevelopment offering that will be a great benefit to this part of the County. Gwinnett County is a great place to do business, and we are pleased to be developing another project here.”

Fuqua Development is a real estate development firm specializing in urban retail mixed-use supercenters. The company has developed such notable local projects as Peachtree Corners Town Center and The Exchange @ Gwinnett near the Mall of Georgia, as well as the retail portion of The Battery at Truist Park, home of the Atlanta Braves.