19 Dec Economic, Fiscal, & School Impacts Analysis for the Villa Rica Mixed-Use Development
Location: Villa Rica, Georgia
Client: Fuqua Development
Lead Consultant: KB Advisory Group
Services Provided: Economic, Fiscal, and School Impact Analysis
KB Advisory Group conducts an Economic, Fiscal, & School Impact Analysis for a Mixed-use Development in Villa Rica, Georgia
KB Advisory Group (KB) Scope
Fuqua Development engaged KB Advisory Group to conduct an economic and fiscal analysis in addition to a school impacts study for a proposed grocery-anchored mixed-use retail development in the east side of Villa Rica.
The proposed development would include over 102,500 square feet of modern retail and feature two residential components. Commercial offerings included various restaurants, a grocery store, and a gas station, and the residential components featured multifamily and townhome units. The proposed site also had recreational space and an existing stream and forest.
KB analysts estimated the construction impacts, impacts from the on-going operations of the development, and impacts to local schools. Construction of the mixed-use development was estimated to create over 500 annual full-time equivalent construction jobs with nearly $42 million in construction materials purchased locally.
Ongoing operations of the development would result in many benefits for the city and county, including fiscal gains for local schools, job creation, and significant public revenues through increased sales and property taxes. KB analysts estimated the mixed-use development had the potential to create 225 full time jobs and produce approximately $2 million in revenue from sales taxes, and $1.4 million in incremental annual property taxes overall.