2990 STONE HOGAN CONNECTOR Atlanta, Georgia 30331
• 20+ Acres zoned R-3 for Residential Use • Convenient to Downtown, Hartsfield-Jackson International Airport, future Fort McPherson Redevelopment, public transportation and major interstates/highways • Ideal for 55+ Active Adult Community or affordable housing for movie industry employees • NOW PRICED AT $899,000
GLORIA WILLIAMS
REALTOR®
404-429-6326 | 404-537-5200 | gloria.williams@bhhsga.com | gloriawilliams.bhhsga.com ©2017 An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity.
A RARE OPPORTUNITY:
20+ Acres in the City of Atlanta with Versatile Zoning • 2990 Stone Hogan Connector is one of the most unusual parcels of land located within the City of Atlanta. • According to the Atlanta Community Development Plan, this unique property is suitable for: w Residential High, Very High & Low Density w Commercial High & Low Density w Office/Institutional/Residential w Community Facility • The property includes a house, and a stable (horses not included)
LOCATION: • 9 Miles to Downtown • 6 Miles to the soon-to-be redeveloped Fort McPherson (home of the new Tyler Perry Studios and mixed-use community) • 5 Miles to Hartsfield • 3 Miles to I-285 • 1.4 Miles to Kroger, CVS and Greenbriar Mall • 1 Mile to Atlanta’s newest Planet Fitness Gym • Convenient to the airport, shopping, the interstate, public transportation and makes this an ideal, affordable housing opportunity for movie industry employees or seniors. • The Former Tyler Perry Movie Studios (across the street) is listed for $25,000,000 for 56.6 acres.
DO
2990 STONE HOGAN CONNECTOR
AIRPORT
OWNTOWN
Greenbriar Mall
DEVELOPMENT PROPOSAL: 55+ Active Adult Community
This property would be an excellent candidate for a 55+ Active-Adult Community. The 20.5 Acres contained in 2990 Stone Hogan Connector would support a community of ranch condos and amenity space. According to Headlight Data, Atlanta ranks #9 among large American cities in the size of it’s Baby Boomer (born between 1946 and 1964) population growth since 2009. Atlanta ranks #20 as a retirement destination. In the coming years, these rankings will continue to rise, given climate, healthcare, economic development, geographical location and transportation. Currently, 55+ Active-Adult communities in Metro Atlanta that are under construction or available for resale are located, on average, 42 miles from Downtown Atlanta. Given that 2990 Stone Hogan Connector is only 12 miles from Downtown, it would meet a huge buyer demand for affordable 55+ Active-Adult communities closer to the city. Many homebuyers in this age category want to live close to public transportation, excellent medical care, cultural, sport, dining and entertainment venues. These homebuyers also want the feel of the suburbs with secure, quiet, attractive, maintenance-free and private living space. Using the style of some of hte existing communities in the region, this property could provide homes in a community that fills this need. Priced form $200,000 - $325,000, product in this category is almost nonexistent and extremely hard to find inside I-285. With a minimum of 10 homebuildable acres supporting 4-6 homes per square acre, the retail revenue generated by this project could range from $8,000,000 to $19,000,000. Any portion of the property not used for home contruction may be suitable for complimentary amenities, typically found in a gated residential community.
DEVELOPMENT PROPOSAL:
Affordable Housing for Film Industry Professionals
According to a recent report by FilmL.A., Georgia is currently the number one filming location in the world, stealing the title away from California. With the current Tyler Perry Studios practically across the street, and the future expansion in the newly redeveloped Fort McPherson Live/Work/ Play community, there is a need for affordable housing for both local and imported film idustry professionals. 2990 Stone Hogan Connector can meet this need. It is centrally located inside the perimeter, convenient to public and highway transportation, but just outside of the more expensive intown neighborhoods where rents are becoming more and more exorbitant every day. Currently, there is one townhome community in the immediate vicinity of the property that could provide an indication as to how a similar neighborhood would fair in the current market: Stoney Pointe at Camp Creek is a community of 64 townhomes built in 2007. There is currently one active listing in the neighborhood priced at $120,000 with 3 bedrooms, 2.5 baths and 1,492 square feet. Four similar units have sold in the past year, with one selling in just 5 days of hitting the market for 99% of list price, and another for 102%. Given that these homes are decade-old resales and the community features no amenities like a pool or clubhouse, one could infer the demand exists for brand-new construction of comparable townhomes in the area, perhaps with neighborhood amenities that could help fetch a higher price. Given its location merely 5 miles to Hartsfield-Jackson Atlanta International Airport and so close to the heart of the city, 2990 Stone Hogan Connector would be an appealing option for industry professionals seeking affordable housing with the ability to travel inside, outside and around Atlanta as quickly as possible.
GLORIA WILLIAMS REALTOR®
404-429-6326 | 404-537-5200 Gloria.Williams@BHHSGA.com GloriaWilliams.BHHSGA.com ©2017 Berkshire Hathaway HomeServices Georgia Properties. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Equal Housing Opportunity. Information deemed accurate, but subject to change without notice.