The City of Alpharetta published an official explainer on Tuesday, Aug. 4, spelling out how Tax Allocation District #3 works and why it won't raise anyone's property taxes, as the city moves toward a pivotal vote on the Jamestown North Point Sports & Entertainment District proposal.
The 646-acre financing zone, centered on North Point Mall and surrounding commercial properties, channels future property tax growth from new development back into public improvements like roads, trails, parks, streetscapes and utilities. It does not create a new tax or increase existing rates.
"It's not in the school board's best interest to just walk away and let that whole corridor die," Mayor Jim Gilvin said at a September 2025 council meeting, when the TAD study was under discussion.
A corridor in decline
The numbers explain the urgency. North Point Mall's nine tax parcels have lost more than $97 million in full market value over six years, according to the TAD Redevelopment Plan prepared by KB Advisory Group. Property taxes collected from those parcels are projected to total just over $1.9 million in 2025, a 49% decline from 2019.
The City Council unanimously approved TAD #3 on Nov. 17, 2025, replacing a prior district created in 2019 that generated only $105,670 before being dissolved in early 2023 after the pandemic stalled development, Fox 5 Atlanta reported.
What the TAD could generate
The district's 150 tax parcels carry a current taxable digest of about $264.7 million, roughly 2.81% of Alpharetta's $9.4 billion gross digest. Over a 30-year life, the TAD could produce an estimated $225 million to $280 million in investable capital, assuming Fulton County and the Fulton County School District participate.
School district participation is the swing factor. With it, the plan projects about $390 million over 25 years; without it, just $174 million, according to Appen Media. Whether the school district has formally agreed to participate has not been publicly confirmed.
Planned uses include $191 million to $210 million for North Point Mall redevelopment incentives covering demolition, structured parking, site development and parks; $20 million to $34 million for transportation and infrastructure; and $13.5 million to $36 million for streetscapes and public amenities.
The Jamestown proposal
The TAD is the financial backbone for Jamestown LP's rezoning application to transform the 100-acre mall site into a walkable entertainment district anchored by a 20,000-seat NHL arena. The plan also calls for a 4,000-seat music hall, 750,000 square feet of office space, 907,000 square feet of retail and dining, 1,385 apartments, three hotels totaling 850 keys and more than 16 acres of parks.
Frances Bohn, Jamestown's director of development and construction for North America, said in an April 15 interview that the company submitted its zoning application to kick off "a months-long public review and approval process" ahead of a City Council vote anticipated in late summer.
The city hosted community zoning meetings on June 10 and July 8, and a special Planning Commission meeting on July 30. 11Alive reported the council is expected to consider the project later in August.
Residents can review project details at northpointfuture.com and find upcoming public hearings at alpharetta.ga.us/public-hearings.
