Real estate in brief: Star-studded infill opportunity, A for Atlanta and more

by Mary Welch

Terje Sollie via Pexels

Offers are now being accepted by JLL for a 40-acre infill development site in south Atlanta. Branded as The Sawtell, the site has two existing buildings totaling 166,000 square feet of rentable space, and currently produces income from TV and film production leases, which allow for a phased development project.

The parcel is nestled between Chosewood Park’s McDonough Boulevard and the federal penitentiary, and since it is within an Opportunity Zone, would give “significant tax benefits to equity investors,” according to the LoopNet profile. Entitlements allow for development of dense commercial and a variety of residential products. No asking price was listed, offers for the site are due by March 28.

In other real estate news:

Atlanta gets an “A”

Niche.com released its survey of the best places to live and Atlanta earned an overall grade of “A.” The site said that its rankings are based on a “rigorous analysis of key statistics” from the U.S. Department of Education as well as millions of reviews on their site. The report card ranked housing a C; here are the other grades they gave various aspects of the city:

  • Nightlife: A+
  • Diversity: A
  • Outdoor activities: A
  • Health and fitness: A
  • Commute: A-
  • Family-friendliness: B+
  • Weather: B+
  • Jobs: B-minus
  • Cost of living: C+
  • City’s public schools: C+
  • Crime & safety: C-minus

Still number one

Dorsey Alston, Realtors was the No. 1 office for Buckhead home sales for the 10th year. Last year the Buckhead office led all other real estate offices in total volume sold and number of sales of single-family homes in Area 21 — Buckhead — according to First Multiple Listing Service. Over the last 10 years, Dorsey Alston has led all offices for Area 21 in sales volume and the number of sales for single family homes and attached units. Houses, townhomes and condominiums listed by Dorsey Alston had the fewest average days on market, which was 50 days for offices with more than 70 listed units.

City Place readies for final building

AMLI Residential submitted a building permit application to erect a multifamily building as the last stage of its City Place development in Buckhead Heights. The 2.95-acre site is between Lakeside Drive and Oak Valley Road. Plans call for a five-story LEED Silver building with 271 residential units and 401 parking spaces. Dubbed the Flatiron, it will be the fourth and final building in the development. In a July 2018 meeting with the Development Review Committee of Special Public Interest District 12, one of the points of contention was that a large oak tree on the corner of Kingsboro and Oak Valley roads would have to be cut down in order to build four more apartment units.

Regents to add 60 condos to Buckhead

A third partner may be the charm needed for Regent Partners to get its Buckhead mixed-use tower built. Bisnow reports that Dallas-based Tier REIT has joined Regent and Batson-Cook Development to break ground on a 600-foot tall tower in the heart of Buckhead. The building will include 560,000 square feet of office space and 60 luxury condominiums. The tower, which would be the tallest in Buckhead, should be delivered in 2022 with leasing commitments expected before the groundbreaking in late winter.

Kolter Homes to build age-restricted community

Kolter Homes, in conjunction with Kolter Land Partners, has closed on 1,422 acres in Hoschton, GA., a historic town about 50 miles southwest of Atlanta. Kolter intends to build an age-restricted gated community featuring 2,600 homes, of which 1,300 will be single-family. The overall master-planned development, which has been named “Twin Lakes” in honor of its 11-acre and 39-acre waterways, would include a clubhouse overseen by a full-time lifestyle director, yoga studio, art studio and walking trails.This will be the third Cresswind community in the area, joining Cresswind Peachtree City and Cresswind at Lake Lanier.

Acworth project to break ground soon

Pollack Shores Real Estate Group announced it will start work on a 315-unit multifamily community in Acworth that will feature 12 buildings along a 2.5-acre park. The project, about 32 miles northeast of Atlanta, will have a density of 14 units per acre. No price points were given nor were any interior renderings released. Groundbreaking should begin soon with a projected opening date of March 2020.