Elected officials in Henry County, one of the fastest-growing suburban markets in the US according to the last Census, have given the green light to the developers on their zoning requests at a 603-acre site, 30 miles south of Downtown Atlanta. The project, Avalon, will be a $500-million undertaking consisting of 2,050 apartments, townhomes and single-family residences; seven four-story office buildings; and an undetermined amount of retail space.
Area owners of industrial tracts in the immediate Avalon location are rushing rezoning applications to Henry County officials, hoping to share some of the anticipated commercial real estate growth from the subdivision, county staffers confirm for GlobeSt.com. The Avalon property is about a mile southwest of Interstate 75 and GA 20/81.
Area planning consultants tell GlobeSt.com Avalon will generate at least $17 million annually in property taxes to the City of McDonough. The projected price range of the new homes is $140,000 to $280,000. The city's permanent population of 11,000 is expected to grow 50% to about 16,500 by the time Avalon is completed, consultants familiar with similar projects tell GlobeSt.com.
Developers Adams and Walker are heading into Avalon with experience from at least two major comparable subdivision projects they are completing in Henry County--the 1,300-home Locust Grove Station with 40 acres of commercial space in Locust Grove ; and Northbridge Crossing, a 171-acre project with 900 townhomes and condos and 27 acres of commercial development in Stockbridge.
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