Haselton, Gainesville, GA
New Home Construction
Gainesville, Georgia is one of the country’s fastest growing cities. The influx of new residents has caused a local housing shortage. Median home values have been appreciating approximately 7% per year, with the majority of homes priced between $300,000-$400,000. The Haselton Subdivision is located in North Gainesville and consists of 185 raw lots and 72 boat slips with access to the region’s premier water sports venue, Lake Lanier.
This project consists of three phases. We are buying the first phase of 69 lots and building homes on them. We are exploring the option of doing a 55+ community. However, currently the project is not age restrictive. Phases two and three consist of premium lots that have views and are on the water. These lots will sell at a much higher price than the phase 1 lots. Boat slips for these lots will also sell at a premium due to a low availability and high demand for docks on Lake Lanier. The docks will add to the home value immensely and increase absorption.
For investors, we are projecting a 15% internal rate of return and a 37.5% return on investment over the projected 2.5 year project. We have a great team as well as significant tenure in the Atlanta metro area. We have been building new homes here successfully through collaboration with Adam Whitmire, President of The Whitmire Group. Adam has been personally developing land and doing new construction projects in Atlanta for many years as has his family now for multiple generations.
Projected IRR: 15%
Projected ROI: 37.5%
Time Frame: 2.5 Years