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.