X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEWNAN, GA-Thirty miles southwest of Downtown Atlanta in Coweta County, local officials have been inundated with developers’ filings for preliminary plats, development plans, land-disturbance permits and rezoning applications.

To give itself some breathing room, elected officials have placed a 90-day moratorium on all new high-density residential ventures. City staffers confirm to GlobeSt.com that elected officials want to make certain the area’s 17,000 permanent residents and an undetermined number of new residents will have a balanced mix of multifamily, townhomes and single-family residences.

One of the areas officials are studying include the high number of quarter-acre lots that have been approved and are selling in the $160,000 range. The moratorium isn’t affecting planned commercial projects in the immediate area, local brokers tell GlobeSt.com.

Among the projects on the drawing board are Newnan Crossing Partnership’s 1,000-acre, mixed-use development which is expected to have an estimated build-out value of at least $100 million, as GlobeSt.com previously reported.

CED Holdings of Orlando Inc. previously closed on a 17.3-acre multifamily-zoned land tract for $1.8 million. Riverwood Properties of Atlanta paid $1.1 million for a 1.5-acre parcel. Both tracts are within the planned Newnan Crossing development on the east side of Interstate 85.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.