With all of the development going on in Atlanta, you might think there is not any land left on which to build a new neighborhood. But according to this week’s Atlanta Business Chronicle, real estate firm Cannon Equities plans to build a $200 million community on 44 acres along Marietta Boulevard.
The Atlanta-based company sold almost 20 acres to Pulte Homes. It plans to develop 200 townhomes, many with rooftop terraces to take advantage of views of both the downtown and Buckhead skylines.
In addition, the new development, which Cannon Equities calls the Quarter Upper Westside, could have 300 apartments and a town center anchored by shops and restaurants.
With about 1 million square feet of residential development, along with the mixed-use component, it could become one of the largest projects inside the city. Construction could begin in August. Pulte would start building townhomes by the first quarter of next year. The first units could be available by the end of 2017.
Douglas Sams is the Real Estate editor at the Atlanta Business Chronicle. He covers commercial real estate.