Blue River Development sold off six communities in various stages of development in the second half of 2023 for a combined $22 million.
The Cumming-based developer plans to use the proceeds to fuel its expansion into new markets in Florida, the Carolinas, Nashville, Texas and Atlanta. More sales are expected later this month.
The properties sold are:
- Silver Comet Commons in Powder Spring. A 70-townhome, 11.65-acre development purchased by Pulte Homes. The community is fully permitted and ready for horizontal construction.
- 646 North Ola in McDonough. An 80-acre, 95-home community, which was purchased by Century Communities. The property is fully permitted and ready for horizontal construction and development.
- 401 Rose Drive in Marietta. A 33-townhome community on 3.26 acres, which is fully developed and ready for vertical construction. Davidson Homes was the buyer.
- Clocktower in Douglasville. A 37-townhome community on 9.63 acres, which was purchased by Stephen Elliot Homes. The asset is partially developed and almost ready for vertical construction.
- Georgia Walk West in Warner Robins. A 33.5-acre, 107-lot community purchased by Lennar. The property is fully developed and ready for vertical construction.
- Indian Creek in Huntsville, Alabama. A 69-townhome project on 14 acres that is ready for vertical construction.
“These closings represent the growth of Blue River Development and our commitment to addressing the critical need for new housing in these vibrant communities,” Managing Partner Michael Cooper said in a press release. “Our strategic expansion aligns with market demand, and we’re proud to contribute to regional development.”