The newest player is Touchstone Homes of Suwanee which has won a rezoning nod from city planners but still needs an OK from city commissioners for a proposed 207-unit subdivision consisting of row houses and detached residences. Brokers familiar with the submarket, 10 miles east of Downtown Atlanta, tell GlobeSt.com the estimated build-out value of the project could reach $30 million.
The proposed Touchstone project would be the 94th subdivision in Snellville. The development site is a 50-acre tract three miles northwest of Downtown. The Tanner-Hosford Egyptian Arabian Horse Farm and training school occupies most of the property.
The project is expected to be opposed by residential groups who are concerned over increased traffic, over-crowded schools, air and water pollution, brokers who have attended previous public hearings tell GlobeSt.com.
The newest shelter project comes as developer Douglas B. Spohn, president, Spohntown Corp., Duluth, awaits approvals from regional planners on his $74-million, nine-building Wisteria Square. The 10.7-acre, 444,600-sf project calls for loft condominiums, storefront retail and office space. If the project breaks ground in 2004, it could be completed by 2009, local brokers familiar with the undertaking tell GlobeSt.com.
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