SMYRNA — In an effort to jumpstart redevelopment in a crime-ridden area of northwest Smyrna, the City Council voted 6-1 Monday night to buy and demolish an apartment complex that sits on 48 acres off Windy Hill and Old Concord roads.

The Smyrna Downtown Development Authority plans to issue revenue bonds to cover the purchase and demolition of the 94-building Hickory Lake Apartments at 490 Windy Hill Road. The complex costs $9.5 million and razing costs are expected to be $4 million, City Administrator Eric Taylor said.

“The property actually appraised for quite a bit higher than that,” Taylor said. “When you look at what is going on in that northwestern quarter of the city, we really need something up there that will kind of kick start the redevelopment of that area. And with 48 acres at that location, it should really help.”

Councilman Jimmy Smith, who represents the ward where the complex is located, agreed.

“It’s vital for the future,” Smith said. “There are not too many large parcels left anywhere … If we don’t acquire this somebody else will.”

Mayor Max Bacon said city officials have a meeting with the Downtown Development Authority later this week to discuss further plans for the land.

Taylor said city officials have already spoken to several businesses and the chamber of commerce to see if they would be interested in developing the property. Smith said he had his own ideas for the property, but did not feel comfortable elaborating on them until after the public had the opportunity to weigh in. A public forum to discuss the development of the property will be held on Oct. 27 at 7 p.m. at the Smyrna Community Center.

Bacon said the city has high hopes that the land will help spark redevelopment in north Smyrna, especially with the uptick in traffic that is expected when the Windy Hill connector is done next May.

“Hopefully it will be an economic engine that will help us redevelop that end of town for a better use than what it currently is,” Bacons said. “We’re very optimistic about it and don’t know that we’ll have the opportunity to acquire an apartment complex with that many units, and really the 48 acres is what we’re attracted to.”

Smith also hoped the city could use the land to improve the area.

“It would be a catalyst for that whole north end of Smyrna,” Smith said. “It may not spark anything next week, or next year, but if we don’t acquire them and someone else takes them over as apartments, then it could just be the same way for 20 years.”

While Taylor would not call the 41-year-old apartment complex blighted, he said it is reaching the end of its life cycle. He also admitted that the area seems to be a hotspot for crime.

“It’s the highest area for 911 response in the city,” Taylor said.

Owned by Atlanta-based First Communities Management Inc., the apartment complex houses 726 one, two, three, four and five-bedroom units. An employee at Hickory Lake Apartments said the complex is currently at a 71 percent occupancy rate, and that rent for a two-bedroom apartment costs $499 per month.

At $9.5 million, the site would cost about $197,916 per acre. Taylor. The property will not be demolished until early next year, Taylor said, to give current residents time to relocate. Bacon said the city would work with Hickory Lake residents to help them find new housing.

When asked if buying the apartment complex was worth it for the city, Smith said: “It depends on who you ask. How much is the future worth? How much potential damage could it do to the economics of the city if something is not done?”