Dunwoody finalizes purchase of future park

Vermack Property Rainbow by Travis Reid

Dunwoody City Council Members unanimously approved financing to close on the purchase of more than nine acres on Vermack Road for additional park space.

Dunwoody, GA – June 15, 2021 – During a meeting last night, the Dunwoody City Council unanimously approved the financing needed to close on the purchase of two residential parcels on Vermack Road for a future park. The combined size of the parcels, located at 4809 and 4819 Vermack Road, is 9.29 acres and includes an open field and a wooded area.

“The public response to this plan has been overwhelmingly positive,” said Dunwoody Mayor Lynn Deutsch. “This is a great opportunity, and I look forward to working with the community to shape this space.”

After last night’s Council meeting, Mayor Deutsch signed the documents for the purchase of the property for $5.67 million, which will be financed over 15 years at an interest rate of 2.06% with no pre-payment penalty. The purchase is being made through the Georgia Municipal Association’s Bricks and Mortar Installment Sale Agreement Financing Program. It’s a lease-to-purchase financing structure that follows the model used for Dunwoody City Hall in 2016.

“It’s rare in a city that’s 13 square miles to find a piece of property that’s almost 10 acres in size,” said Dunwoody City Manager Eric Linton. “I see so much potential and consider this a generational move.”

Closing is scheduled for June 28. This acquisition will put the City over the 200-acre mark for park space. There are no immediate plans for the property. Future decisions will be led by community input.

(Photos – Vermack property rainbow by Travis Reid; Signing photo: City Attorney Bill Riley, Parks Director Brent Walker, City Manager Eric Linton, Bond Counsel James Woodward, Finance Director Linda Nabers, Mayor Lynn Deutsch; Council approval: Back row – Parks Director Brent Walker, Councilmember Jim Riticher, Councilmember John Heneghan, City Manager Eric Linton, Front row – Finance Director Linda Nabers, Councilmember Pam Tallmadge, Mayor Lynn Deutsch, Councilmember Stacey Harris, Councilmember Joe Seconder.)