FAIRBURN, GA-Martha Stewart Living Omnimedia and Los Angeles-based KB Home are jointly planning Hampton Oaks, their second Southeast townhome and single-family community. The development will rise on a 480-acre tract next to the Chattahoochee River in south Fulton County.

According to KB Home's website, the swim-and-tennis-oriented project will have 800 homes priced from $200,000 to $400,000. Area brokers tell GlobeSt.com the project will have an estimated build-out value of $240 million. About 700 potential buyers are on KB Home's preliminary sales reservations list, according to marketing sources working with KB Home CEO and chairman Bruce Karatz.

Stewart and KB Home sold out in a week the first 100-home phase of their planned 650-home development last year in Cary, NC, area marketers familiar with the project tell GlobeSt.com.

Hampton Oaks will have seven models and 13 floor plans offering one-story and two-story homes with three, four and five bedrooms and 2.5 to three bathrooms. A two-car garage will come with each home. The average living area will be 1,864 sf to 4,624 sf. Basement home sites will also be available but the KB Home website doesn't elaborate on those models.