133 SFD Lots - Palmer Falls (Final Phase)

Description

The offering comprises 133 future single-family detached lots with the following attributes:

SHOVEL READY - a Land Disturbance Permit has been secured and the lots are ready for horizontal development.

All required off-sites, including the community’s secondary entrance at King Drive, have been completed.

Favorable zoning conditions, including a minimum of 2,000 SF, will allow a builder to build price-sensitive product.

Established community with 130 total homes in the initial phases. Existing homes have resold for an average price of $497,000 over the last 24 months, and new construction homes in Phase 3 have sold for an average price of $546,000 over the same period.

The Seller has Declarant Rights that will be transferred to the Phase 4 buyer at close, including ARC control and other Declarant advantages. No assessments are due until the new home is sold.

In addition to the 3-acre lake and 40 acres of greenspace, the community features an extensive amenity package. Phase 1 of the amenity is complete, and Phase 2 will be constructed by the HOA and at the HOA’s expense within 12 months of the sale of Phase 4. At build out, the $1 million+ amenity will include a community pool, two-story clubhouse, tennis courts, and children’s playground.

Water and sewer services provided by Douglas County. There is a very limited supply of sewered lots in this market.

Located approximately 2 miles from the $350 million mixeduse development called The Trails, which will feature a mix of residential and commercial uses including a $200 million movie studio anchored by Lionsgate.

Convenient access to the job base at Hartsfield-Jackson Atlanta International Airport, with more than 63,000 jobs, and surrounding retail amenities including Sweetwater State Park, Publix, Kroger, and Arbor Place Mall.

Outsized population growth over the last decade has resulted in an extreme imbalance between supply and demand. Douglas County has less than 3 months of housing supply as of January 2024 (latest data available).