New Construction News
The county stood head and shoulders above its neighbors in terms of Atlanta-area housing starts, closings and lot deliveries, with Cherokee County coming in a distant second in all three metrics.
New-home sales rose 7.5% month over month, while the median price of a new house surged to $493,000 from $455,700 in September and $427,300 a year ago, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.
A joint-venture partnership is developing the 239-unit build-to-rent Avondale East community in Stone Mountain.
The pace of new single-family home sales, meanwhile, fell 6.1% from September to 598,000.
The development will be called Sugarloaf Landing and feature 114 build-to-rent townhomes.
The buildings are the first ground-up components of the $5 billion sports-and-entertainment district taking shape over the Gulch.
The number of homes under construction rose during the month, as homebuilders continued to work through a large backlog of homes.
The future communities will deliver 56 new single-family homes and townhomes to Mableton and Marietta.
Crestwind Township will include 260 build-to-rent townhomes and 129 single-family homes for sale.
The move comes as the company prepares to begin construction of the 37-home second phase of the development, Sweetwater Springs.
The city’s housing authority chose a joint venture of developers to redevelop the long-vacant site of the former public housing project.
The Oak Grove Vista project will be developed on 33 recently acquired acres on Jonesboro Road.
Mortgage rates continued to weigh on homebuyers in September, following a brief uptick in new-home sales in August.
The complex is part of a larger master-planned community, which will include single-family homes and restaurant and retail space.
Related Development has proposed a mixed-use project that would take advantage of Children’s Healthcare of Atlanta’s nearby billion-dollar expansion.
New home construction missed analyst estimates in September, falling 8.1% month over month to an annual rate 1,439,000 homes, according to government statistics.
