Developer: Avalon Will Generate $21 Million in Taxes Annually

North American Properties immediately issued a media release on the that thanked the city and promised a quality development.

According to the release, Avalon will bring more than 1,000 temporary construction jobs to the area and 3,500 permanent jobs. Upon completion, it is expected to generate $21 million in annual sales tax revenue, $4.5 million annually in new property taxes (including $700,000 to the city of Alpharetta) and $1.1 million annually in hotel taxes for Alpharetta.

  “The city of Alpharetta has long been one of the best places to live and work in the United States because its residents and elected officials have demanded a very high standard of quality from each new development,” said Mark Toro, managing partner at North American Properties (NAP). “With the city council’s approval of Avalon, Alpharetta has once again set a new standard other communities will seek to emulate. We are grateful for the city’s enthusiastic support of our plan and thrilled Avalon will be an integral part of Alpharetta’s future.”

The complete release accompanies this article.