Chamblee DDA rescinds prior approval and ratifies revised second amendment to Greystar purchase agreement

The Chamblee Downtown Development Authority on Oct. 15 rescinded its earlier approval of a second amendment to the purchase-and-sale agreement with Greystar Development East LLC and then authorized entry into a revised second amendment and authorized the chair to execute related documents.

The board first voted to rescind the version of the second amendment it had approved at its Sept. 23, 2025 meeting. Board members then approved a revised second amendment as presented and authorized the chair to execute related documents. Both motions passed unanimously.

During discussion the chair said the purchasing party had requested edits and that signing the previous draft was moot because edits were still under negotiation between the parties’ attorneys. The revised second amendment, as explained to the board, pushes back the end of the property inspection period from last Wednesday to this Friday at midnight. The chair characterized the request as largely administrative and said communications with project consultants show no sign Greystar is backing away from the transaction: “By all indication, we have received talking to Brian and Chris from Stream, they have seen no indication that Greystar has doubts about this deal,” the chair said.

Board members approved a motion to rescind the previously approved version of the second amendment and then approved and ratified the revised second amendment and authorized the chair to execute related documents. No vote counts were recorded in the transcript; the chair stated the motions passed unanimously.

The chair and staff noted that further amendments or a third amendment are still being negotiated and that final signatures will follow attorney review.