New Construction News
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.
Atlanta homebuilder Paran Homes is developing the community in a joint venture with Los Angeles-based real estate investor PCCP LLC.
The head of the Atlanta Preservation Center reportedly said the L-shaped tower would “besiege” an adjacent historic apartment building.
The completion of the property, Westbound at The Works, will mark the end of The Works’ phase one development, which spans 27 acres and includes 184,000 square feet of retail and 125,000 square feet of office space.
The master-planned community will be known as Oak Hill Reserve and is slated to open in spring 2023.
The garden-apartment project sits on more than 23 acres adjacent to Sugar Hill’s new master-planned downtown.
The development is the first to take advantage of Johns Creek’s new TC-X mixed-use ordinance, which was enacted to facilitate the development of the city’s 192-acre Town Center Vision and Plan.
Sales of new homes in the U.S. jumped 28.8% between July and August, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
Highlands of Decatur will bring 46 new homes to Flat Shoals Road between Gresham Park and Panthersville.
New-home construction posted a 12.2% month-over-month increase in August, thanks in large part to a significant jump in multifamily building.
Royal Estates will have 173 single-family homes priced from the low $400,000s.
Atlanta’s urban core saw more multifamily units delivered over the last 10 years than any city in the U.S., a StorageCafe study finds.
The 300-unit community in Lawrenceville is slated to open in early 2024.