ALPHARETTA, GA — Alpharetta city leaders are preparing to vote Monday evening on creating a tax allocation district that would help advance one of the nation’s largest mall redevelopment projects at the North Point Mall site.

The move would mark a significant step toward reimagining more than 90 acres of what consultants describe as highly valuable real estate. One consultant who studied the area said, “This is like as big as it gets in terms of potential.”

A recent study outlines what the property could eventually support: approximately 2,600 housing units and nearly 3 million square feet of commercial space, including retail, hotels, and office space, a scale that could generate hundreds of millions of dollars in new tax revenue.

Despite the ambitious vision, there is no formal redevelopment proposal yet. “We sort of know that a plan is coming for reuse of the mall. We don’t know what that plan is, we don’t have an actual proposal; so basically we had to put one together that’s conceptual,” the consultant told officials.

Among the ideas floated for the site is a new professional hockey arena. Alpharetta previously approved a $150,000 feasibility study to explore whether the area could support an NHL team, though the concept faces competition from the $3 billion “Gathering” development in Forsyth County, which has also proposed an arena.

If approved, the tax allocation district would move the North Point Mall makeover one step closer to becoming a reality.

WSB Radio’s Jennifer Perry contributed to this story.