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.
The county will begin a planning process in the coming months to explore ways to redevelop the site and set a new vision for the property, according to the release.
While the entirety of the Gwinnett Place Mall site encompasses more than 90 acres, the county is only purchasing a little less than half of that.
The rest of the property will remain with its current owners, whose current tenants will not be impacted by the purchase.