JV Plans Georgia Single-Family Community
Located outside Atlanta, the project is expected online in 2024.
Real estate investment manager The Resmark Cos. and builder Eastwood Homes are developing a single family rental community in Cartersville, Ga.
Located in the Atlanta suburbs, the 220-unit community will be built on a 30-acre parcel at Interstate 75, Center Road and Smiley Ingram Road SE.
The project represents the first single-family rental development in Eastwood’s history. The company, which has developed single-family for-sale communities in the Atlanta metropolitan area for half a dozen years, has six active for-sale communities in the area, as well as a pipeline of communities in pre-development. Site construction will begin this spring, with the project expected complete in the fall of 2024.
“We are at the very beginning of the horizontal site development,” Stephen O’Neil, Resmark senior vice president, investments, told Multi-Housing News. “Our greatest challenges are related to thoughtfully designing the site plan to maximize the user experience along with density and profitability.
Two-story attached townhouses will be featured with three bedrooms, two full bathroom and a half-bath and individual backyards and garages. The residences will include stainless steel appliances, granite countertops, full-size washers and dryers and smart home features.
“We’re extremely focused on incorporating a community amenity package that is appropriate,” said O’Neil. “We’re addressing the site plan, unit mix and amenity design by engaging with best-in-class regional property management firms to provide feedback [and] knowledge on what we need, don’t need, and so on to compete effectively in the market when we deliver in 18 to 24 months.”
In addition to sitting on I-75, the property is in close proximity to Georgia State Route 20, with both roads offering access to Marietta, Ga., and Atlanta.
Among the employers in the area is a new electric vehicle battery manufacturing facility near Cartersville that is receiving $5 billion in investment from Hyundai Motor Co. and SK Innovation Company. The plant will employ 3,500 workers beginning in 2025.
Restaurant, retail and other attractions at Main Street Market Place and Historic Downtown Cartersville are located near the property. Cartersville is home to a number of museums and recreational options.
Earlier this month, Toll Brothers Residential unveiled its new Decatur, Ga., community in the Atlanta suburbs.