Gainesville, GA, is among the top 50 fastest-growing metros in the US. The Haselton community, located on the scenic Lake Lanier in north Georgia, consists of 338 single-family detached homes.
This community will offer needed diversification for our real estate fund. While sales for entry level housing becomes stifled during the current housing recession, more valuable lake properties continue to sell to more affluent home buyers. Featuring a best-in-class amenities package with lake access, boat slips, a clubhouse and swimming pool, pickleball courts, a dog park, walking trails, and natural waterfront views attracts a buyer pool less affected by this type of housing recession.
Update: Water & Sewer to be Completed February 2023
This development will seek to provide a mix of for-sale and for-rent housing opportunities to residents, given that this area has a robust demand for lakefront living. We are finishing the grading of phase one of our Lake Lanier community in Gainesville, GA.
Water and Sewer materials are in the bid process, and once bids are received, our construction team will select the best vendor at the most competitive pricing. Our construction team is on track to complete the water and sewer installation in February of 2023.
Phase 1 - Under Development
We will begin development on phase 3 next summer, while we are still building homes in phase 1. The third phase is across the road with lake access.
$31 MM in Equity
As developers, we were fortunate to acquire 110 acres of land on Lake Lanier. We purchased this phase originally from the bank as estate lots that went under during the 2008 recession. Due to our relationships within the local community, we were able to purchase the additional 82 acres at a bargain compared to the pricing today.
With $31 MM in equity today, Haselton is an excellent project that will allow the Arabella Real Estate Fund to reach its desired payout of 25% IRR & 8-12% yearly distributions.
Gainesville, GA, among top 50 fastest-growing metros in US
Gainesville has steadily grown by 1.8%, according to Fred Economic Data. This growth puts Gainesville among the top 50 fastest-growing metropolitan areas in the U.S. Gainesville has seen tremendous medical growth, one of the city’s substantial economic drivers.