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$492M mixed-used development proposed in Smyrna near Truist Park

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Published  September 11, 2024 10:53pm EDT
Smyrna
FOX 5 Atlanta

What is the proposed South Springs development?

Truist Park could get another neighbor. A development team wants to build a half-billion-dollar high-rise and hotel complex up the street from the stadium.

The Brief

    • Developers have drafted up a proposal for a new mixed-used development located near Truist Park that would cost nearly half a billion dollars.
    • Some businessowners in the area are excited about the potential foot traffic. Some homeowners and renters fear the new development would drive up prices.

SMYRNA, Ga. - Truist Park could get a new neighbor. A development team wants to build a near half-billion dollar high-rise and hotel complex up the street from the stadium. It would be called South Springs, right near US-41 and Interstate 285 in Smyrna.

Cyddra Simmons, as a businessowner, likes the idea of a new $492 million set of high-rises right across the street from her barbershop.

"I’m a ‘yes.’ It is foot traffic, it builds more money," said Simmons, who manages Heads-R-Us on Spring Road in Smyrna. She also lives in the city. "As a resident of the area, it’s not really a good idea."

Simmons worries the proposed development could price her and her neighbors out of their community.

"We’re being pushed out," she said.

Roswell-based RASS Associates wants to build South Spring. It would be a mixed-use development on spring road, just a stone’s throw from Truist Park. It would include luxury apartments and a four-star hotel. "Two high-rise residential buildings, a hotel," said Scott Polikov, development lead for RASS Associates. "We’re going to have somewhere over 100,000 square feet of mixed-use retail, restaurants."

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The proposed South Spring would be a $492 million set of high-rise towers near US-41 and I-285 near Truist Park in Smyrna.  (Supplied)

Polikov says South Spring would add diversity to the housing market.

"By adding more supply, regardless of the range of the supply, it’ll keep the prices stable," Polikov said. 

When asked if the development would drive up rents for the surrounding community, Polikov answered "Absolutely not."

When asked if taxpayers would have to cover any costs, Polikov responded, "There is the potential for participation in a public/private investment. There’s already a substantial investment in the property. A substantial seven-figure investment."

The developer hopes to build South Spring by 2029. A spokesperson for Smyrna said the city has not gotten the proposal yet. The city looks forward to reviewing it.

The Atlanta regional Commission will meet with the developers on Monday.