ALPHARETTA, Ga. — Plans to swap two townhome buildings for 10 single-family homes on Thompson Street in downtown Alpharetta are on hold for now.
The City Council voted Monday to table a proposal by Kairos Development to adjust plans approved in 2015 that called for four condominium buildings – each with 12 units – on close to 4 acres at Thompson Street and Haynes Bridge Road.
Officials with Kairos said the change in plans comes about due to post-pandemic economic conditions that favor single-family homes over condos.
“It’s a struggle building multi-family,” said Art Rountree, operations director for Kairos.
In terms of staging construction, building costs and the current housing market, single-family homes are an easier option, he said.
“I think single-family is a lot easier, it’s faster, and I think it would be profitable,” Rountree said. “These are expensive homes [with] well-done materials.”
Rountree also addressed concerns raised by council members about architectural design and congestion along Thompson Street during construction. He said work could be staged on site with minimum disruption, and the firm would be anxious to revisit any architectural and building material changes necessary to accommodate downtown aesthetic standards.
The proposed building site is Phase 2 of a construction project originally proposed as four 12-unit condo buildings. Two buildings are completed, and many of the three-bedroom units have sold for more than $900,000, although the sale prices dipped toward the end of 2020.
More than a half dozen residents in the completed condos said they were uneasy about the change in plans.
Residents pointed out that plans originally called for a shared stormwater system that they feared could be affected because of the site changes. Other residents said they were equally concerned with changes in open space the original plans called for.
Council members said they preferred the developer resolve issues with the current residents and that the firm take a second look at the streetscape, which has also changed because of the updated site plan.