The project will include 95 townhomes developed by Homes by Williamscraft, Inc. Eighteen of the residences will be constructed over retail space. Prices for the units will range from $190,000 to $250,000 with sales to begin in the summer. Marketing efforts for the townhomes will begin within 90 to 120 days, with construction expected to begin after that time, Madison Retail director of leasing Kim Dart tells GlobeSt.com.

The development will also feature 28,000 sf of retail space with small shop space ranging from 900 sf to 5,000 sf and three outparcels for restaurant and office space. Tenants committed to the retail space include Walgreens, BB&T Corp., Lee Nail Spa, Kaysons Grille, Zucca's Bar & Pizzeria, Five Guys and Roly Poly Sandwich Shop. The project is approximately 60% preleased. The retail space is expected to be completed in the summer.

About 40,000 vehicles travel on Towne Lake Parkway and about 180,000 vehicles travel on Interstate 575. "The project will be located on the premier corner in this market for retail," Dart says.

The project will be constructed on a sloped terrace with townhomes situated at higher elevations and retail at the more level portion of the site closest to Towne Lake Parkway. Both the residential and retail buildings will feature traditional late 19th and early 20th century Craftsman-style architecture reminiscent of old "town centers." Brick finishes will be accented with muted tones and enhanced with external period lighting.

The project is being constructed under a smart growth plan developed for Cherokee County, one of Georgia's fastest growing counties, by the Cherokee County Economic Alliance. Among objectives of the plan are creating opportunities for entrepreneurial activity, attracting new high-quality businesses and ensuring a desirable quality of life for residents.

Among reasons for embarking on the project are that continued growth in the county is resulting in a need for additional retail and service establishments. According to the County Community Assessment Report, the existing 4.5 million sf of retail space in the county is insufficient to meet population and income levels.