Alpharetta-based residential developer Parkland Communities Inc. recently sold four planned communities zoned for 775 residences to four homebuilders for a total of $19 million.
The 290 construction-ready acres in Dekalb and Gwinnett counties were purchased by Century Communities, McKinley Homes, NVR Homes and Rocklyn Homes.
“The team at Parkland Communities has been very busy designing, entitling and developing neighborhoods for some of Atlanta’s biggest home builders,” Parkland Communities President Jim Jacobi said in a press release. “We are thrilled to have closed these deals and look forward to reinvesting the capital into several new communities coming soon around Atlanta.”
Century purchased the Kinglsey Creek subdivision, which offers 160 50- and 60-foot single-family lots off of Stephenson Road in East Dekalb. The 46-acre community, which feeds into the Stephenson High School District, features green space, nature trails and playground/play field with pavilion. The development is entitled and in the last round of land-disturbance review, according to Parkland.
McKinley homes purchased the Highland Park subdivision on Rock Springs Road in Stonecrest. The 130-acre property is near downtown Lithonia and includes 171 single-family lots with several community amenities, including a pool, cabana and play field. Students there will attend Dekalb County schools.
NVR purchased the 136-lot Summertree neighborhood in Dekalb. The R-100-zoned subdivision is designed to preserve an existing lake and forested green space and is across the street from Pine Ridge Elementary and Stephenson Middle School and within walking distance of Stephenson High School. The community’s amenities include a large pavilion, a central play park and several pocket parks.
Finally, Rocklyn purchased Martin Springs, a 308-residence community in eastern Gwinnett that will feature single-family homes and rear-entry townhomes on 67 acres along Highway 316, just east of Lawrenceville. The neighborhood will offer 14 acres of common space that includes pocket parks, a forest and a pool and cabana. A 150-year-old oak tree that was special to the family that owned the land serves as the focus of the community, Parkland noted.