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ATLANTA-Large blocks of undeveloped rural Georgia acreage attracted Newland Communities of La Jolla, CA to metro Atlanta where the developer has started construction on 16 acres of commercial, 200 townhomes and apartments, and 1,600 single-family residences in Hall County, according to area brokers. The estimated build-out value in 10 years is $600 million.

The site, near Spout Springs Road and Interstate 985 in Flowery Branch, GA, is 50 miles northeast of Downtown Atlanta. At least 105 acres on the 894-acre tract, located around a 45-acre lake formerly known as Looper Lake, will be preserved for parks.

The first phase of the project’s residential component is scheduled for completion in spring 2004. Anticipated prices for townhomes and single-family product will be $150,000 to $600,000.

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