An Arizona-based developer has purchased enough suburban land to fit almost 24 Centennial Olympic Parks in hopes of capitalizing—like so many other real estate companies, sprawl be damned—on the continued growth of metro Atlanta and demand for additional housing.
Walton Global, a real estate investment and land asset management company, has closed on 517 acres outside the City of Sharpsburg, southwest of Atlanta and Peachtree City in Coweta County. Other places nearby that Atlantans may have heard of include Newnan (to the west) and Senoia (just southeast), which is famous for its role as The Walking Dead’s Woodbury.
Walton officials say they plan to build more than 1,000 single-family homes on the property. It’s called Adamson, and it's planned to become a master-planned community in coming years.
The metro Atlanta property, as Walton officials pointed out in a Friday acquisition announcement, is within a 50-minute commute of downtown, or 20 minutes to the “strong employment concentrations” in both Newnan and Peachtree City. Communal amenities call for parks, playgrounds, walking trails, and a “master amenity center” with a clubhouse and pool.
“The location is prime for everything this area has to offer,” Michael Viers, Walton Global’s land manager for Georgia and Tennessee, said in a prepared statement. “When we were searching for land within this MSA, we felt the Adamson property would support locals and out-of-state buyers alike, which have shown a strong interest in finding homes in this growing part of the Atlanta region.”
It’s not the company’s only recent bet on metro Atlanta, where the COVID-19 pandemic has supercharged residential demand in suburban markets, especially with new product.
Earlier this year, in the Paulding County City of Dallas, Walton sold land to a homebuilder that’s expected to bring roughly 650 homes to the market northwest of Atlanta.
Meanwhile, in nearby Dallas, Artisan Built Communities is building an even larger project called NatureWalk at Seven Hills, between Marietta and Acworth. That’s planned to include 1,400 home lots eventually, spread across a whopping 1,500 acres, with two waterparks as part of the amenities.
And in Hoschton—about 35 miles northeast of the Interstate 285 Perimeter, as one other example—the Twin Lakes community is expected to feature 2,600 homes when finished. That’d make it one of the largest new-home developments in metro Atlanta in the past decade—big enough to nearly double the surrounding area’s population.
• New town tied to Georgia's TV/film industry just sold its 200th house (Urbanize Atlanta)