Written: August 14, 2017

DR Horton pays $5 million for next phase of formerly stalled development

Here’s another sign the suburban Atlanta housing market is back on its feet.

DR Horton is starting the next phase of a 90-acre Gwinnett County housing development that had stalled during the Great Recession and went back to its lender.

The expansion could add another 150 homes to the Mill Creek area, a sprawling network of housing and schools between Suwanee, Buford and Braselton.

DR Horton already owned the first phase of the project, known as Lakeview at Hamilton Mill. Developing the next phase, or about 35 acres, could bring the entire project to 230 homes.

Earlier this summer, it paid $5.1 million to acquire and develop the remainder of the site at Interstate 85 and Doc Hughes Road, according to Gwinnett County property records.

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Mercedes-Benz Stadium retractable roof will not be ready for Falcons home opener

A one-of-a-kind retractable roof will not be ready to open for the Atlanta Falcons’ first home games at the new Mercedes-Benz Stadium.

Team officials made the announcement earlier this afternoon.

No date was given when the retractable roof would become fully automated, meaning it could open and close with the press of a button.

For now, it can be opened manually, but the complex, mechanized process takes about six hours. Steve Cannon, CEO of the Falcons parent AMB Group LLC, said he is confident the roof will function as planned at some point this season.

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Outer suburbs pacing metro Atlanta growth rate

With Metro Atlanta’s outer suburbs leading the way, the 10-county metro region added 78,300 residents between April of last year and this April, the Atlanta Regional Commission (ARC) reported Thursday.

The fastest growth occurred in Cherokee and Henry counties, with population increases of 15 percent and 12 percent, respectively since 2010. The city of Atlanta, which had been steadily losing population for several decades until the 2000 census, grew by 7 percent between 2010 and this year.

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$612 million Atlanta medical office deal announced

Nashville, Tenn.-based Healthcare Realty Trust Inc. (NYSE:HR) said it’s agreed to buy 15 medical office buildings in the Atlanta metro area from Meadows & Ohly, LLC for a total purchase price of $612.5 million.

The properties are located on hospital campuses or fully leased to three leading health systems in Atlanta. The properties total 1.3 million square feet and are 96.2 percent occupied.

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Buckhead finalizes first master plan in 15 years

Someday Buckhead will be easier to get to and around by car and foot as trails and new transportation improvements eliminate much of the gridlock on busy streets. People — many of them young — will live, not just work, here. Walkable avenues will be adorned with public art and the district will finally have a central public gathering point. That’s the vision of a newly released master plan called “Buckhead Redefined.”

Getting to that vision will take money, code changes, persuasion and about five to 10 years. Nothing will come to fruition overnight, but the plan’s supporters see it as the beginning of a new era for Buckhead. An Atlanta City Council vote on the plan is expected in the fall.

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More than 500 residential units planned in new Buckhead Village project

A Dallas real estate company is proposing one of the largest mixed-use projects yet for the rapidly developing Buckhead Village.

Dallas-based JLB Partners wants to rezone its three-acre site at West Paces Ferry and Paces Ferry Place, where it could develop more than 500 residential units.

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306 new homes proposed in Cobb County

Developers are proposing four new residential developments in Cobb County that would have a total of 306 homes.

3757 Floyd Rd Property LLC is proposing a 58-unit townhome community on 7.3 acres. Homes would be 1,500 to 2,000 square feet and up, according to plans filed with Cobb planners.

Meritage Homes of Georgia LLC is proposing 174 homes on 47.5 acres at the southwest intersection of Floyd Road and Glore Road in Cobb County. The project would include townhomes of 1,700 to 2,300 square feet and up, and single-family detached homes of 1,800 to 3,200 square feet and up.

Traton Homes LLC is proposing 56 homes on 16.3 acres at the southwest intersection of Burnt Hickory Road and Bob Cox Road in Cobb County. Homes would be 1,800 to 2,800 square feet and up, with Traditional/Craftsman architecture.

And CPS Development LLC is proposing 18 homes on 8.9 acres on the west side of Wesley Chapel Road and the south side of Sandy Plains Road. Homes would be 3,000 square feet with Traditional/Craftsman architecture.

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Boston Consulting Group confirms $9.2 million, 200-job Atlanta expansion

Boston Consulting Group (BCG), a global management and consulting firm, will create more than 200 jobs and invest $9.2 million in a new regional support center in Atlanta.

 As part of the expansion, the “Big Three” consulting firm will lease 40,000-square-feet — or two floors — in an undisclosed downtown Atlanta building and create more than 500 jobs over a decade. Construction is expected to begin in June 2017 and to be completed in June 2018

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Sarasota, Fla., OK’s deal committing Braves to spring training facility through 2048

The Atlanta Braves would be committed to spring training in Sarasota County, Fla., through at least 2048 under final agreements unanimously approved this week by the county.

The facilities and non-relocation agreements receiving unanimous approval this week also commit the Braves for paying for any cost overruns for the $75 million to $80 million complex in North Port, Fla., and set an October funding deadline. A key piece of funding still pending is a $20 million state grant; the agreements pave the way for that grant application, according to a story Tuesday in the Sarasota Herald-Tribune.

Sarasota County’s vote Tuesday was perhaps the most important to date to finalize the team’s move that has been more than two years in the making.

“We’re now the dead center of Major League Baseball,” Commissioner Charles Hines said. “Even if you don’t go to those games or don’t like them, it adds another feather to our cap, our community … we’ve got it all; what a great opportunity.”

Plans for the complex include a roughly 8,000-seat stadium, practice facilities and public multi-use fields. It will be located just south of the State College of Florida, Manatee-Sarasota campus near U.S. 41 and River Road in the West Villages commercial and residential district.

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Atlanta developer Stan Thomas files bankruptcy for Tennessee project

The Atlanta-based owner of half of the massive Ovation development in Cool Springs, Tenn., filed for bankruptcy protection hours before the property was set to be sold at auction.

The May 17 bankruptcy filing had the desired effect, canceling a foreclosure sale that was scheduled for noon today on the steps of the Williamson County Judicial Center in downtown Franklin. It would have been a dramatic twist for a high-profile project more than four years in the making, one that aims to create an urban mixed-use environment in the region’s longtime suburban corporate headquarters hub. Ovation, which will cost more than $1 billion to build, is planned to include up to 1.4 million square feet of office space — including the new headquarters for Mars Petcare U.S. Inc., one of the county’s largest employers — as well as 480,000 square feet of retail, restaurants and entertainment space; 950 residential units; and 450 hotel rooms.

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