The $200 million plan to add significant new development to Birkdale Village has received a critical approval. The Charlotte Business Journal reports Jamestown received an okay from the Huntersville Board of Commissioners for a rezoning that will allow them to develop a 125-room hotel, 150 multifamily units, 26,715 square feet of retail space and a new, seven-story office building at the center.

Birkdale Village currently includes around 250,000 square feet of retail space, 50,000 square feet of office space and 320 apartments.

The new office building at Birkdale Village will total 175,000 square feet, including around 13,000 square feet of ground-floor retail space. The six-story apartment building is targeted for the site of the existing Dick’s Sporting Goods store. The seven-story hotel would be near Birkdale Village’s entrance off Sam Furr Road.

Jamestown will acquire the Atlanta subsidiary of Cincinnati-based North American Properties (NAP). The Atlanta subsidiary, which has $2 billion in assets under management as of June 2024, is an owner/operator and real estate services provider of mixed-use properties in suburban, high-growth markets across the Eastern U.S.

As part of the transaction, a Jamestown affiliate will invest in several Atlanta area retail centers. These centers include Colony Square (Atlanta, Georgia), The Forum Peachtree Corners (Peachtree Corners, Georgia) and Avenue East Cobb (Marietta, Georgia). The deal also included a handful of out-of-state lifestyle centers.

Upon closing, the Atlanta-based operating platform and its assets will move forward under the Jamestown name—as will its more than 200 employees.

Established in 1996, the NAP subsidiary positioned itself as a boutique, full-service developer pursuing opportunistic returns. This allowed the subsidiary to assemble a portfolio of underutilized lifestyle destinations and maximize their potential through value-add, experiential redevelopment projects.

Jamestown has delivered 619 Ponce, a 115,000-square-foot Class A office building in Atlanta’s Old Fourth Ward.

The development is part of the second phase of the Ponce City Market adaptive reuse project at 675 Ponce De Leon Ave NE, which opened in 2015. Much of the project was built on the site of what was once a Sears location that was bought in 2011 for $27 million. Additional plans for the project’s second phase include Scout Living and Signal House, both multifamily projects.

The four-story 619 Ponce is Atlanta’s first office building to be made entirely of locally sourced mass timber, all lumbered from Jamestown-owned forests located around Columbus, Ga. Construction was done on-site by JE Dunn and StructureCraft. Designed by Handel Architects, 619 Ponce includes outdoor space, a rooftop courtyard, with spaces featuring floor-to-ceiling windows with moveable panels.

EDENS, owner and developer of over 100 open-air retail and mixed-use shopping centers, has unloaded Fountain Oaks in Sandy Springs. Jamestown, the buyer, paid $48 million for the 160,000-square-foot center, which is anchored by a Krogers supermarket.

Fountain Oaks is 98% leased by 38 tenants. The center was built in 1988 and renovated in 2003.

The Fountain Oaks deal is another venture into Sandy Springs for Jamestown. The Atlanta Business Chronicle reports In 2018, Jamestown paid $94 million for the Exchange at Hammond and Parkside Shops shopping centers. In addition to Ponce City Market, Jamestown owns Westside Provisions District and Buckhead Village.

JLL represented EDENS in the sale of Fountain Oaks. EDENS owns or operates centers in 16 states.