The Atlanta-based homebuilding giant will replace the outgoing executive with its senior vice president for field operations. 

The five-story, wrap-style complexes, Scott Crossing and Point on Scott, have been renamed Abberly Skye and Abberly Onyx by the new owner, which is making its first foray into the Atlanta market. 

September is the fourth month in a row to see declining sales activity. 

A 30-year fixed-rate mortgage rose to 7.08% this week from 6.94% a week ago, Freddie Mac reported. A year ago, the average mortgage carried a 3.14% rate. 

The awards from the Greater Atlanta Home Builders Association cover all aspects of the building process, from master-planned community to best online ad. 

Mortgage rates continued to weigh on homebuyers in September, following a brief uptick in new-home sales in August.  

At the same time, mortgage applications declined 1.7% on a seasonally adjusted basis on a week-over-week basis, according to the Mortgage Bankers Association. 

The city’s plans for the 41-story skyscraper, which it is buying from the state for $39 million, include the creation of “dedicated and deeply affordable housing.” 

In Atlanta, home prices posted a 20.1% year-over-year gain in August, compared to a 22.8% gain in July. Month over month, prices fell 0.4%.

The complex is part of a larger master-planned community, which will include single-family homes and restaurant and retail space. 

The Atlanta developer’s exclusivity agreement calls for up to six Crystal Lagoons destination water parks within a 100-mile radius of Atlanta. 

The only other time the market saw such change was at the beginning of the pandemic. 

Month over month in September, existing-home sales slid 1.5% to 4.71 million, which is 23.8% lower than the year before. 

Since 2015, Chevy Chase, Maryland-based FCP has acquired 33 Atlanta-area communities. 

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.