More than four years after breaking ground, the European village-inspired component of Carter’s Summerhill development has entered the home stretch of construction with prices that have climbed—for better or worse—to new heights.
New listings posted with Compass this week are being called the last chances to own standalone houses at Hedgewood Homes’ community south of the food-and-beverage hot zone Georgia Avenue has become.
Listed deep into the $900,000s, the properties are aiming to set a new sales benchmark where modern townhomes fetching the mid-$300,000s was decried as lunacy not so long ago.
The priciest of the lot is a $949,800 option at 673 Martin Street, directly across the street from Summerhill’s Phoenix II Park.
That buys four bedrooms and three and ½ bathrooms across four stores, between a two-car garage and rooftop deck. (Another consideration: $185 monthly HOA fees.) A sizable balcony extends off the main floor, over a fenced front yard.
Another tall, slender house that emerged this week seeks $934,000 for one fewer bedrooms. Neither listing includes square footages.
Records indicate no single-family house in Summerhill has sold above the $1-million mark—or even $900,000—though one is priced significantly higher right now, despite recent price chops this summer.
Elsewhere around the new pocket neighborhood, as such master-planned communities in walkable settings are called, several options are available in the low $500,000s (all currently under contract). That buys two bedrooms and two bathrooms across three stories without a garage.
Tucked off Georgia Avenue, where Wood’s Chapel BBQ, D Boca N Boca, Halfway Crooks Beer, Hotdog Pete’s, and other eateries have sprung up the past few years, the Hedgewood venture has brought a distinctive residential facet to the 83-acre redevelopment Carter named simply “Summerhill,” a nod to the historic neighborhood that hosted Atlanta’s Olympics.
Once finished, the project will number about 100 homes and townhomes across four city blocks that were previously asphalt parking lots, developers have said.
Like other pocket-sized communities popping up in places like Edgewood and Reynoldstown, the Summerhill project aimed to stand out from traditional townhome rows and creatively use available land with a mix of sizes and price points.
In the first phase, the smallest so-called townhomes of around 750 square feet (one-bedrooms with two stories) were priced from $299,000. Most units included rooftop decks, a variety of porches, and professionally maintained private gardens. Elsewhere in the community is a private pool and what sellers have described as a “cul-de-sac for pedestrians, not cars.”
Hedgewood is a seasoned metro Atlanta builder of relatively dense, walkable places, spanning from Serenbe to Lake Claire to Cumming’s Vickery Village. Carter, the developer, says more than $1 billion in new investment has been constructed or has entered planning stages since the Atlanta Braves decamped to Cobb County and redevelopment began.
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