Trademark will undertake a plane to bolster North Point Mall with apartment buildings, green spaces, and restaurants.
The New York Life Insurance Company has hired Trademark Property Company to manage and redevelop the 1.3 million-sq.-ft. North Point Mall in Alpharetta, Ga. The once-dominant super-regional had fallen on hard times and owner Brookfield Property transferred the deed to its lender, New York Life.
Fort Worth-based Trademark aims to transform North Point-- one of the largest malls in America when Homart Development opened it in 1993—into a mixed-use property, putting into play a redevelopment plan hatched two years ago.
North Point, with more than 125 tenants including H&M, Von Maur, Cheesecake Factory, and an AMC Imax theater, has been met with solid competition in recent years. North American Properties’ Avalon mixed-use center (CSA’sNo. 3 Top Retail Center Experience in 2019) and The Georgetown Company’s Halcyon (CSA'sNo. 3 Comeback Center in 2020) have set a new tone in Georgia’s Forsyth County with green spaces, events, and trendy dining options.
As a result, in February of 2019, the Alpharetta City Council approved plans for a new 83-acre mixed-use development on the northeast side of the mall, featuring apartments, restaurants, new retail areas, small parks and trails, a rock wall, a play fountain, and a lake. An expanded playground inside the mall was also mentioned in the original plans.
“Mixed-use and retail repositioning is clearly the path to long-term sustainability moving forward,” said Trademark executive VP Jeff Johnson. “We are excited to work with the city, tenants, and other stakeholders in transforming North Point for long-term success. This is truly a top regional location for a variety of uses.”
Other redevelopment projects managed by Trademark include Rice Village in Houston, Zona Rosa in Kansas City, and Annapolis Town Center in Annapolis, Md.