FOR IMMEDIATE RELEASE
August 12, 2014
Proposed Development for Capps Ferry Road to include Westin Hotel, Conference Center, Golf Course, Road and Sewer Infrastructure, and Corporate Park
DOUGLAS COUNTY, GA - The initial phase of the development plans include construction of a 350-room Westin Hotel, Conference Center, 50 villas, an 18 hole championship golf course, necessary improvements to roads, and the installation of sewer for the area. The total cost of the initial phase is expected to be $195 million, with a private investment of $160 million and $35 million paid through the issuance of bonds by the Development Authority of Douglas County. The estimated benefits to Douglas County during the construction phase of the project are: $161.2 million in construction value, 1001 construction jobs, and $3.4 million in public revenues. The initial phase will act as a catalyst to ignite additional development along Capps Ferry Road with convenient access to the world’s busiest and most efficient international airport.
The $35 million paid through the issuance of bonds will cover the construction of sewer, road improvements, and the Conference Center. The construction of the Westin Hotel will be covered through private investment. The Westin Hotel and Conference Center will be managed and marketed by Starwood Hotels and Resorts, a global leader in corporate events, and the Development Authority of Douglas County will hold title to the Conference Center during the term of the bond agreement. The bond payment will be paid annually through various tax revenues generated by the Foxhall development and the revenues are expected to more than cover the bond payment each year. However, to lessen the risk to Douglas County taxpayers, Westin Hotels and Resorts has agreed that should the yearly tax revenue ever fall short of meeting the bond payment obligation, they will cover the amount of the shortfall.
Once the initial phase is under construction, additional phases will begin, including the development of higher education facilities, high-density mixed used establishments, and a technology focused corporate park. These developments will correlate with similar development goals of the South Fulton Parkway corridor and will enhance the marketing strategy of the entire South Metropolitan Atlanta area, which includes Douglas County.
A public information session was held at Foxhall Resort and Sporting Club on Monday, August 11, 2014. Approximately 200 citizens and community leaders attended. Presentations regarding the project were given by the Development Authority of Douglas County, the Georgia Department of Economic Development Tourism Division, the Atlanta Regional Commission, and Starwood Hotels and Resorts. The Douglas County Board of Commissioners is expected to vote on the $35 million bond by the end of the year.
About the Development Authority of Douglas County
The Development Authority of Douglas County (DADC) is charged with attracting, recruiting, and retaining businesses for Douglas County, Georgia. The DADC is governed by a nine member board of directors, comprised of community business leaders and appointed by the Douglas County Board of Commissioners. The mission of the DADC is to bring quality growth to Douglas County through job creation opportunities and by diversifying the tax digest. Information about the DADC can be found online at www.DevelopDouglas.com.