Hot Henry County Mulls Newest Shelter Venture

Brokers familiar with the planned project tell GlobeSt.com what concerns county commissioners is that the development site is along traffic-heavy Jonesboro Road near the 722,244-sf Henry Town Center retail hub and other newly developed commercial and retail projects such as Home Depot, Target, Sam's and several restaurants. Developer David Black's proposed project would increase traffic on the two-lane road, commissioners say. An ongoing road widening project won't be finished until 2020, commissioners have been told.

The county planning commission already has rejected the rezoning request and recommends the county commission do likewise. The planners maintain the development would add 7,264 vehicles to the 11,278 vehicles traveling along Jonesboro Road daily. The county receives at least 24 rezoning applications per month and is still considering placing a four-month moratorium on all new applications, planning department staffers tell GlobeSt.com.

Black's development group has told the county the project would take at least 10 years to complete and would link with its 500-home Crystal Lake subdivision under construction in the same general area. Crystal Lake homes are priced from $375,000 to $2 million. Homes in Black's new project would start at about $250,000, the developer has told the county.

The latest national developer to discover the potential of Henry County is Inland Western Retail Real Estate Trust Inc. of Oak Brook, IL. The REIT bought a total 444,296 sf in the 744,244-sf Henry Town Center at Interstate 57 and Jonesboro Road in February for $62 million or an average $139.54 per sf, as GlobeSt.com previously reported. The seller was Henry Town Center LLC.

Two area developers, James Chaffin of McDonough and WRL Associations III of Roswell, also planned retail projects along Jonesboro Road west of Interstate 75. Chaffin needs 10.7 acres rezoned; WRL requires a new zoning for 23.5 acres.