Despite slowing residential sales, Alpharetta town home land is hitting the top of the market.
Raw land prices have hit more than $750,000 per acre on Canton Street, the highest recorded residential raw land prices ever in Alpharetta.
Late last year, developers brought plans to Alpharetta requesting rezoning of several different town home projects.
All the projects were requesting 10 units per acre and were approved with an array of conditions to make sure they were compatible with the area.
After final approval was given and engineering was completed, at least three projects are now under development by three different companies.
Units should be ready for sale by the first part of next year and are expected to range from $425,000 to $550,000, depending upon options and square footages.
The first developer out of the shoot is Camelot Signature Development.
The Cobb County based company is building 55 units on the western portion of Canton Street from School Drive northward.
A fountain, sculpture, small pocket park, pedestrian lighting and brick sidewalks will grace this development.
Camelot Signature has a history of building senior oriented housing and the company expects that a large segment of their market will be the 55 and older crowd.
North of that point, Peachtree Residential will be building 39 units with a similar architectural style and amenities.
Peachtree Residential hopes to continue their success that they've had on Marietta Street, with a product with high end finishes and larger units.
Across Canton Street, Dravins Development of Duluth is redeveloping the former Trailer Street site with the addition of 23 units.
With the improvement and renaming of the street, Dravins hopes to create a sophisticated entrance look to the overall development with the improvement of the eastern portion of Canton Street from Church Street northward.
Similar amenities, along with some common open space, and front and rear loaded town home units, will afford a wonderful living environment for future homeowners.
Brian Patton, CCIM, owner of Capital Realty Advisors LLC, has represented developers of the 78 of the 117 town home units approved on Canton Street.
He can be reached at 770 634 4848 or by email at: bpatton@ccim.
net.
Raw land prices have hit more than $750,000 per acre on Canton Street, the highest recorded residential raw land prices ever in Alpharetta.
Late last year, developers brought plans to Alpharetta requesting rezoning of several different town home projects.
All the projects were requesting 10 units per acre and were approved with an array of conditions to make sure they were compatible with the area.
After final approval was given and engineering was completed, at least three projects are now under development by three different companies.
Units should be ready for sale by the first part of next year and are expected to range from $425,000 to $550,000, depending upon options and square footages.
The first developer out of the shoot is Camelot Signature Development.
The Cobb County based company is building 55 units on the western portion of Canton Street from School Drive northward.
A fountain, sculpture, small pocket park, pedestrian lighting and brick sidewalks will grace this development.
Camelot Signature has a history of building senior oriented housing and the company expects that a large segment of their market will be the 55 and older crowd.
North of that point, Peachtree Residential will be building 39 units with a similar architectural style and amenities.
Peachtree Residential hopes to continue their success that they've had on Marietta Street, with a product with high end finishes and larger units.
Across Canton Street, Dravins Development of Duluth is redeveloping the former Trailer Street site with the addition of 23 units.
With the improvement and renaming of the street, Dravins hopes to create a sophisticated entrance look to the overall development with the improvement of the eastern portion of Canton Street from Church Street northward.
Similar amenities, along with some common open space, and front and rear loaded town home units, will afford a wonderful living environment for future homeowners.
Brian Patton, CCIM, owner of Capital Realty Advisors LLC, has represented developers of the 78 of the 117 town home units approved on Canton Street.
He can be reached at 770 634 4848 or by email at: bpatton@ccim.
net.
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