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$40M Lakeside MarketPlace Opens

ACWORTH, GA-The 41-acre, former landfill site is Acworth's first tax allocation district, a financing tool that allowed the city to sell $6 million in bonds to prepare the site for redevelopment.

By Alex Finkelstein | Updated on July 31, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

ACWORTH, GA-This North Cobb County city of an estimated 180,000 residents today has its first 330,000-sf, open-air power center with the formal opening of the $40 million Lakeside MarketPlace, about 15 miles northwest of Downtown Atlanta.

A tax allocation district, created by Acworth elected officials and approved by Cobb County commissioners and the School Board, allowed the city to sell $6 million in bonds to prepare the former 41-acre landfill site for redevelopment, Acworth city staffers confirm for GlobeSt.com. The bonds were sold based on the estimated future value of the property, according to city sources. Plans for the brownfield redevelopment project were previously reported by GlobeSt.com on Jan. 26, 2005.

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