One of the largest residential projects in the metro area is being proposed in Peachtree Corners on 115 acres that sprawl along the Chattahoochee River. The development will include 916 units of residential housing aimed to serve as an “age-in-place” community.
Peachtree Corners has come a long way over the last several years since it incorporated. For years it had been known as a strip of aging retail centers you had to travel through in getting from Roswell to I-85 along Holcomb Bridge Road and Jimmy Carter. But since incorporating, city officials launched a rebuild of the city that included a new town center that opened earlier this April.
The town center sits on 21 acres across from the Forum that was purchased in 2013. Following a Livable Center Initiative study, the city rezoned the property to mixed-use and approved a town center design concept in 2014. In 2015 it signed a contract with Fuqua Development and sold the property to them in 2017, the same year of the project’s groundbreaking.
The town center included a large town green, a veterans monument, a significant amount of retail and some residential townhomes. Their plan is to also include a botanical garden in the near future.
Since construction of the town center, the area has seen more interest from investors who want to build in Peachtree Corners. The latest is one of the largest residential plans. According to the Atlanta Business Chronicle, the 115-acre site is actually the old campus of the headquarters of Fiserv. The existing buildings will be torn down to make way for the residential development.
The plat has 4,000 linear feet of frontage along the river and the homebuilder said there will be sweeping views of the river.
Final plans have not been submitted, but the project is slated to include condominiums, townhomes and single-family homes, as well as age-restricted independent and assisted living facility. It will be gated.
In the ABC article, Peachtree Corners mayor spoke in favor of the project.
“We want to make sure that housing for these citizens is available,” he said. “This project will provide that housing while respecting the sensitive river corridor and tree canopy that we all love and enjoy.”
The builder expects to break ground in January with the first homes being up for sale by the end of 2020.
Ashton Woods Homes also proposed a 971-unit residential project along the Chattahoochee River just up the road in Duluth. It would sit on 145 acres off Peachtree Industrial Boulevard in Duluth on property that was formerly a golf course.
According to the Chronicle, a recent proposal was to include 161 townhomes with the rest being single-family homes. Of the 145 acres, 65 acres will be preserved as open space.
In Lawrenceville, another developer is proposing 171 homes on 32 acres on Cedars Road near Winder Highway that will include townhomes and single-family homes. And near the Mall of Georgia, another is proposing 245 homes on 58 acres off Bart Johnson Road.
While much smaller, but still large in measure of recent residential developments, another project has been proposed just up the road in Tucker. Plans have been filed for a 22.5-acre property at the LaVista Road-Midvale Road intersection, about a mile outside of I-285 near Northlake Mall. The project would include 63 single-family homes with 5.6 acres of open space.
With inventory still low, especially for houses under $400,000, there seems to be a strong market for residential construction.
Geoff Smith is a mortgage banker with Assurance Financial focusing on residential home loans for refinances and home purchases.
*The views and opinions expressed in this column do not necessarily reflect the views of Assurance Financial Group