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Gwinnett County Commissioners approved bonds issues for Gwinnett Place Mall purchase

Georgia Asian Times
March 3, 2021
Lawrenceville, March 2, 2021 – After Gwinnett County Government’s rare Triple AAA/Aaa bond rating was reaffirmed, the Board of Commissioners on Tuesday gave final approval for the issuance of $23.5 million in bonds to buy 39 acres of Gwinnett Place Mall as part of a major initiative to redevelop one of the key economic engines of the county.
The solid bond rating, reaffirmed in February by the three major rating firms, assures investors the 20-year revenue bonds are sound, and enables the county to issue debt at a favorable interest rate.
The purchase is part of an effort by the County government, the Gwinnett Place Community Improvement District and local property owners to create new opportunities to serve as a catalyst for redevelopment in the area. ....

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Gwinnett County purchasing 39 acres of Gwinnett Place M...

The Gwinnett County Board of Commissioners approved the Urban Redevelopment Agency of Gwinnett County’s purchase of 39 acres of Gwinnett Place Mall at a Tuesday meeting.
According to a press release from Gwinnett County Government, the property is being purchased for $23 million from Gwinnett Place Mall GA, LLC.
The release says the purchase is part of an effort to create new opportunities for “catalytic” development in the area in partnership with the Gwinnett Place CID and local property owners.
The acquisition is expected to close within 90 days. After the closing, management of the site will be transitioned to the Urban Redevelopment Agency. ....

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