DeKALB – DeKalb developer John Pappas has set his sights on a fourth mixed-use development along Sycamore Road, named Isaac Executive Suites, and was given the green light by the City Council to move forward with the project.
The development will include 59 one-bedroom, fully furnished apartment units with leases ranging from four to seven months, documents show, along with a banquet and conference room, and 2,900 square feet of ground-level commercial space.
The development marks the fourth mixed-use concept project Pappas has undertaken in the past few years, though the first to not come with a tax increment finance request. Isaac Executive Suites, 2675 Sycamore Road, does not fall within the boundaries of any established TIF district in the city of DeKalb.
The City Council on Monday approved the development plan and rezoning request unanimously.
Of the apartments, 54 of them will be 420 square feet, three will be 483 square feet and two ground-level units will be handicap accessible and be 720 square feet. A total of 112 parking spaces are proposed for the site ,which will include five handicap spaces, and the banquet area will be for residents only.
“The developer has had discussions with local businesses and brokers of executive spaces and has identified a need for short-term executive suites,” according to city documents.
Cornerstone DeKalb, at First and Lincoln Highway, has 51 luxury apartments on the top three floors of the building, and the ground floor houses commercial space including Tavern on Lincoln, Barb City Bagels.
Across the street is Plaza DeKalb, a four-story, mixed-use apartment complex at 203, 223, and 229 E. Lincoln Highway. The building’s ground level was expected to have a street-level Mediterranean specialty grocer, although nothing yet inhabits the space.
The latest development, Agora Tower a $13.8 million project which was awarded $3 million in TIF funds from the city – is being built on the grounds of a now-demolished Mooney Car Dealership, which was formerly the oldest barbed wire factory in DeKalb, at the corner of North Fourth and Locust streets since 1881.
Demolition began last November, and the $13.8 million project will take two and a half years to complete.
The four-story building will feature 94 high-end apartment units with retail and office space on the first floor.
Source: The Daily Chronicle