Dawsonville is a haven for outdoor enthusiasts and has a long tradition of involvement in automotive racing. It is now home to the Georgia Racing Hall of Fame and is where NASCAR Champion, Bill Elliott, calls home. Georgia Highway 400 and an outlet mall have contributed to the growth of a retail hub in Dawson County, 10 minutes from the city. While Dawsonville remains small in size, Dawson County is growing rapidly, tripling in population. Meanwhile, neighboring Cumming and Forsyth County, located immediately below Dawson County, have grown by almost 40,000 residents in the past 6 years alone. These trends plus recent changes in City limits and plans for economic development mean that Dawsonville continues to receive significant pressures to grow and evolve.
This is a 22-acre Build-to-Rent site in the North Atlanta MSA (Dawsonville, Georgia). The land has been purchased and entitled for the development of 53 lots and is currently in engineering for the final land disturbance approval by the city, to begin site development. We plan to develop horizontal improvements such as installing electricity, water, sewer, and paved roads with curb and gutter, sidewalks, playground, etc. This single-phase development will take approximately 12 months to produce buildable lots. Thereafter, Lennar will build 6-8 homes per month which will immediately be purchased by our institutional buyers as the homes are completed and given a certificate of occupancy. In totality, we expect the project to complete in 2 years from the funding date to the development.