Heavyweight landowner and developer Walton Global Holdings is planning to develop 808 recently acquired acres in Georgia into two master-planned communities with approximately 1,687 homes.
The larger of two land parcels the company acquired spans 652 acres and is in Atlanta’s northwest suburb of Acworth. The future community, to be called Pinehills Trails, will offer 1,302 homes as currently envisioned. Scottsdale, Ariz.-based Walton has partnered with a national homebuilder, as well as a regional one, to secure final approval for the community’s lots by early 2022. Construction is expected to begin later in the year.
“Greater Atlanta has consistently shown a proclivity for growth, even amid the pandemic,” said Walton Executive Vice President for Land and Real Estate Acquisition Barry Dluzen. “New business opportunities and home values continue to outpace many areas in the country. To support the future of the new housing market and to accommodate the region’s accelerated expansion, we are excited to support premier homebuilders to bring needed home inventory to the area.”
The other land parcel spans 156 acres in the City of St. Marys, which is just inside Georgia’s border with Florida near Jacksonville. Walton has partnered with a national homebuilder to obtain approval for 379 lots in the community, which will be called Cannon Forest, by the end of this year. Development is expected to begin in mid-2022.
“With the expansion of the Kings Bay Naval Base, the Cannon Forest residential land parcel will help fill a void of new homes in this market area,” said Mike Doherty, senior vice president of land.
In a press release, Walton said that the two land acquisitions add to the company’s 11,000-plus acres of land under management in Georgia, and the company is actively pursuing additional land transactions in the area.
“Walton’s exit-focused strategy is structured so land can be developed in phases providing just-in-time inventory to homebuilders and developers,” the company said in a press release.