ROSWELL, Ga., May 24, 2017 /PRNewswire/ -- Landeavor, LLC announces the purchase of Great Sky, a 475-acre masterplanned community in Canton, GA, just minutes from I-575.
The purchase is the 11th acquisition for Landeavor and its second in the Atlanta area in the last eight months.
"Great Sky fits all our parameters for our second investment in the Atlanta market," said David Frame, Managing Principal of Landeavor. "It's in a rapidly emerging growth corridor, easy access to north-south transportation, with modern services nearby, including the new Northside Hospital."
Great Sky is partially developed with 450 occupied homes. Landeavor's purchase includes vacant developed lots, undeveloped parcels and the community's HOA amenity and open space.
"The Atlanta housing and job metrics remain solid and support our desire to continue to grow our portfolio in the market," Frame said. "We want to expand in the Southeast and Texas and feel there's a strong upside and investment potential in Atlanta."
Landeavor plans to expand the housing inventory in the community by adding builders and housing products. "Our first priority is to expand the builder mix and diversify prices and products," Frame said. "We've already had several discussions with builders and are confident we will settle a deal quickly."
In addition to expanding the housing stock, Landeavor plans to develop the remaining residential and commercial parcels.
Great Sky borders the Hickory Log Creek Reservoir, a 411-acre reservoir formed by damming Hickory Creek in 2007. A sizable percentage of the reservoir's 15 miles of shoreline fall within Great Sky.
About Landeavor: Landeavor, LLC is a residential real estate development company with offices in Tampa, Atlanta, Charlotte, Houston and Raleigh, NC. The company specializes in the development of residential communities as principal developer or joint venture. Through its distinct capital alliances, the company is uniquely positioned to invest in or develop a variety of planned communities in any stage of development. Landeavor's ownership comprises 11 communities across the Southeast and Texas, including MillBridge, recently named Charlotte's 2017 Community of the Year. For more information, visit www.Landeavor.com.
Annie Kilby, Senior Vice President Marketing
813 961-7275, x304
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SOURCE Landeavor, LLC