www.bizjournals.com | Douglas Sams
Homebuilder D.R. Horton is starting one of Atlanta's largest master-planned communities in more than a decade, with 760 residential lots.
Homebuilder D.R. Horton Inc. is starting one of metro Atlanta’s largest master planned residential projects in more than a decade.
An affiliate of Forestar Group, which was officially acquired by D.R. Horton (NYSE: DHI) earlier this month, bought 335 acres for the massive development near Highway 20 and Ozora Road in the Grayson area.
The transaction closed Oct. 17 for $15.3 million. Stolz Partners was the seller.
D.R. Horton will develop 760 residential lots, with two miles of walking trails connecting to Bay Creek Park and Grayson High School.
Construction is already starting, said Brent Story, with Avalon Real Estate Partners, the real estate firm that brokered the land sale.
“I don’t know of any master-planned communities started in the Grayson area, or any part of metro Atlanta for that matter, that are this large since well before the Recession,” Story said. “I think it speaks to just how strong the market is for entry-level and move-up buyers in this area.”
The entire project, known as “Independence,” will exceed 400 acres, including land along Highway 20 for 450,000 square feet of stores, restaurants and some office space.