The City of Roswell and The Atlantic Cos. recently completed a land swap for the Hillrose Market mixed-use redevelopment project. Plans call for a six-building, 75,000-square-foot retail village; an office building; the adaptive reuse of the former Roswell Police Department into a mixed-use hub with ground-floor retail space and second-floor workspace.

Both properties were valued at $4.79 million, which the city estimated to be the fair market value for the total ground leased commercial area. The land owned by Roswell will be ground leased to The Atlantic Cos. for 50 years plus an additional 50-year option.

It will include 143 luxury apartments, 16 townhomes and approximately 75,000 square feet of retail and office space.

Construction is scheduled to start next year.