The main purposes of the South Cobb Redevelopment Authority is to assist with business development and redevelopment in areas of South Cobb. There are many ways we can assist with redevelopment as an organization and in partnerships with Cobb County’s Office of Economic Development, Chamber of Commerce, and Cobb County Development Authority. The South Cobb Redevelopment Authority has the power to issue low interest bonds to assist private land development in South Cobb. This bonding ability has the impact of lowering the cost of redevelopment projects for activity in South Cobb. The Authority also has the ability to buy, sell, consolidate, or leverage land resources to spur redevelopment activity. Finally, the Authority is actively trying to educate private investors and business owners on the many strengths and opportunities in South Cobb and how locating or investing in this community can help their bottom line.
Six Flags Special Service District Market Analysis
Results from the study will assist the South Cobb Redevelopment Authority and Cobb County government to establish policies to encourage the desired mix of land uses benefiting residents, employees, and businesses.
Research was conducted through both secondary and primary sources, including input from online community surveys and a dedicated steering committee.
SCRA Property Acquisitions
On October 15, 2015, the South Cobb Redevelopment Authority (SCRA) closed on the $3.7 million purchase of Magnolia Crossing Apartments located at 490 Six Flags Drive in Austell. The property was purchased using funds from the $10 million redevelopment bond approved by the Cobb County Board of Commissioners and South Cobb Redevelopment Authority in July 2015. The property was assessed at a value of $4.2 million.
The Magnolia Crossing property accounted for 33 percent of all public safety responses on Riverside Parkway (previously Six Flags Drive). It held a vacancy rate of 35 percent and was in a state of disrepair. The property was completely remediated within a year.
On September 4, 2018, the SCRA purchased the adjacent property to Magnolia Crossing for over $2.5 million. This property was purchased with the remaining funds from the redevelopment bond. The SCRA now has a total of 50 acres of land that is ready for development.
The property is listed for sale for development in South Cobb. Please see attachment below for more details.
Magnolia Crossing Property Listing
The property located at 490 Six Flags Drive, Austell, GA 30168, previously Magnolia Crossing Apartments, is currently for sale. This strategically located 12.42± acre redevelopment site is located 0.5± miles from the I-20/Six Flags Drive Exit 46A. Redevelopment alternatives include mixed-use, retail/commercial, office, medical, senior housing, public/private educational, workforce development, residential or religious institutions. The site is located in South Cobb, a diverse and easily accessible area of Cobb County, within walking distance of Six Flags Over Georgia, a 290-acre theme park featuring 35 rides, and a 7-acre water park.
The property is located near multifamily, single-family, and retail properties. There are approximately 39± acres of contiguous residential property (owned by one family for generations and improved with only 2 homes) located at the rear of the 12.42± acre property. This 39± acres is also presently on the market and could be combined with the 12.42± acre tract for a larger, 50± acre development project.
This property located at 490 Six Flags Drive, previously Magnolia Crossing Apartments, is being offered by the South Cobb Redevelopment Authority (SCRA) which is committed to driving redevelopment transformation of the South Cobb community. The SCRA acquired this older apartment property in 2015, vacated all residents and demolished all buildings on site in 2016. The site has been cleared of all buildings and parking lots, grassed, with a temporary detention pond constructed. The site is now fully prepared for redevelopment.
The goal of the SCRA is to sell the property for a redevelopment with uses that will further benefit the South Cobb Region.
For more information, view the Offering Memorandum Redevelopment Opportunity presentation
SCRA I-20 Landscaping Improvements
In the fall of 2017, the SCRA entered into an agreement with Russell Landscaping to install a beautification project designed by AECOM at the I-20 interchanges at Six Flags and Riverside Parkways. The groundbreaking ceremony for the project took place on March 9, 2018. The project was completed in August of 2018. The SCRA will oversee the maintenance of the landscaping through funds from the Six Flags special services district via an Intergovernmental agreement with Cobb County.
South Cobb Monument Signage
In the fall of 2014, SLANT Media was hired by SCRA to create a marketing and branding campaign for the South Cobb area. SLANT created a logo for South Cobb area and created a design for monument signage that would be installed throughout the area. In June 2018, the SCRA hired DeNyse to fabricate and install monument signs along the Six Flags and Riverside Parkway interchanges. The project was completed in the Fall of 2020. The monument signage complements the new landscaping project at Six Flags and Riverside interchanges to welcome people to the community.
Six Flags Area Road Name Changes
(2014 - Six Flags) The SCRA in conjunction with Cobb County Community Development has renamed the various Six Flags roads in South Cobb in order to reduce confusion in that area.
Reasons include improving navigation in the area, improving public safety response time, and promoting new investment in the corridor. This effort included four public meetings in which local residents, property owners and business owners had an opportunity to provide their input regarding the new road names. Two public input sessions were held at the South Cobb Recreation Center in 2014 in which several community members were able to voice their suggestions regarding the new road names. Two additional public hearings were held by the South Cobb Redevelopment Authority and the Cobb County Board of Commissioners in March prior to a final decision being made.