In Jefferson, the Atlanta-based developer plans an estimated $30-million venture. Various housing categories would take up 104 acres with five acres for retail and other commercial uses, according to an application filed with Jackson County. The land, near US 129 and Interstate 85 at Hog Mountain and Possum Creek roads, would house 280 homes, 27 acres of open park land, a day care center and an estimated 50,000 sf of retail.
Area industrial brokers familiar with the Jefferson submarket tell GlobeSt.com the housing component could probably have a hard construction cost of about $25 million, based on an estimated $90,000 per home. The retail-restaurant component could total $5 million, based on a hard construction cost of about $75 per sf.
Area brokers following the proposed project tell GlobeSt.com a newly installed sewer line to a future Toyota parts plant near the Cousins land is generating developer interest in several areas near Jefferson.
In Fulton County, Cousins plans a 30-story, two-building, 650-unit condominium community with an undetermined amount of retail and restaurant space next to the King and Queen towers in the Concourse office mark in Sandy Springs. The site would accommodate 1,800 parked vehicles, according to the rezoning application.
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