The Atlanta Journal-Constitution
Atlanta developer Macauley tapped to lead project at Fort McPherson
Selection seen as step forward for army post closed in 2011.
The agency steering redevelopment of Fort McPherson has picked a master developer for a portion of the former military installation.
The McPherson Implementing Local Redevelopment Authority selected a partnership led by Atlanta area developer and planner Stephen Macauley. Terms were not immediately known, but Macauley Investments will be in charge of maintaining and reviving existing buildings, as well as for new development on a campus totaling about 145 acres.
“This firm’s entrepreneurial, visionary approach to developing award-winning mixed-use projects in emerging markets like ours gives us confidence they have the experience, enthusiasm and capability to accomplish great things in our community,” Brian Hooker, the redevelopment authority’s executive director, said in a news release.
Macauley is known for suburban residential communities such as Harmony on the Lakes in Cherokee County.
One of his past firms flamed out during the financial crisis when home sales plummeted resulting in a personal bankruptcy. Among the projects that faltered during the downturn was a mammoth luxury development in south Fulton County known as Le Jardin that included former Atlanta Braves slugger Brian Jordan as a top investor.
Since the recession, Macauley has reinvented his business, pitching denser mixed-use projects in
Doraville and Tucker.
Macauley did not immediately return a message seeking comment.
The development team’s selection is a step forward for the former Army post, which was closed in 2011, and for years saw its future in limbo. But it’s no sure bet.
A prior master plan with a different development team, which called for a mix of residences and retail anchored by a technology and bio-science park, failed to gain traction and was scrapped.
In 2015 a filmmaker bought 330 acres of the post, with plans for a film and television studio. Officials with the redevelopment authority, also known as Fort Mac LRA, have said the Perry studio will deliver a jolt of jobs and investment not seen since the post’s closure.
The deal between the city, Perry and the Army also left the Fort Mac LRA with about 145 acres for future redevelopment.
The property offers opportunities along MARTA and the Beltline, and it is a short drive or train ride to Hartsfield-Jackson International Airport. But redevelopment in the area also has been hampered by relatively low household incomes and a reputation for crime.
The agency conducted feasibility studies and engaged the community in a master planning exercise with the Atlanta Regional Commission known as a Livable Centers Initiative. Macauley is expected to design a master plan in keeping with the community study.