Today’s condo environment is a far cry from the first days of the pandemic, when people were told to stay home and stay away from one another.
The seasonally adjusted estimate of new houses for sale at the end of July was 378,000, representing a supply of 6.1 months at the current sales rate.
A rezoning application to allow for the development of the community was recently approved by the Gwinnett County Planning Commission, with conditions.
Atlanta-based developer JPX Works plans to raise a 31-story building at 1405 Spring St., according to a proposal presented to the Midtown Development Review Committee.
Traton Homes will launch its Florida operations in Bay and Walton counties this year and plans to focus on the Panhandle region.
The communities are the Flats at Mt. Zion, a 210-unit apartment community aimed at families with children who attend Mt. Zion elementary and primary schools, and the Villas at Mt. Zion, a 96-unit independent-living property for residents 55 years old and older.
The builder expects the homes to range in size from 1,800 square feet to 2,200 square feet and be priced between $499,000 and $550,000 each.
The 355-unit building is a key element of the Midtown Union mixed-use development, which will also include a 26-story, 612,000-square-foot class A office tower, a 23-key Kimpton hotel and 32,000-square-feet of street-level retail.
“The bright spot in an otherwise underwhelming report comes from the increase in the overall number of permits issued, which can signal how much home construction is in the pipeline.” — First American deputy chief economist Odeta Kushi
The real estate investment and land asset-management company has identified 17 near-term development opportunities and is in advanced negotiations to develop build-to-rent communities with about 2,500 units across the country.