Cobb Real Estate Blog

Grove Street Partners is planning a mixed use development in the Galleria area. It won’t be quite as tall as Park Vinings, but it will be right across the street from it.

This new project will consist of two towers. The first will be an 18 story tower with 350,000 square feet of office space. The second tower will be 15 stories tall and consist of an upscale 200 room hotel with 50 condos on top. Also included in this, yet unnamed, project will be 1,000 underground parking spaces and ground level retail and restaurant spaces.

Expect the project to break ground in the fall on 2008.

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I often drive through neighborhoods, where my clients are thinking of buying a house, to get a feel the neighborhood. I like to look at traffic in the morning and evening, how residents keep their lawns and upkeep their homes. I will also, on occasion, get out and speak to a few of the home owners in the neighborhood. Do you want to know one of the complaints I hear a lot? “There’s always 8 cars parked outside.”, or “There are 10 people living in that house.”

When a home turns into a boarding house it can detract from the neighborhood in many ways. It can congest traffic, increase noise, cause a buyer to not choose your home that’s for sale and sometimes just flat out lower your property value. Well, the Cobb County Commissioners just voted to cut down on these crowded houses.

Under the new law, no more than 6 people can live under one roof. And more importantly, one one person per 390 square feet is allowed to live in any house. That means no more than 4 people could live in a 1,600 square foot house.

The Cobb County Board of Commissioners approved a plan to build two high rise towers overlooking I-75, near the Cobb Energy Performing Arts Center.

“Planning is under way by Grove Street Partners LLC for an as-yet-unnamed office/residential/retail project on a tract bounded by Interstate 75, Akers Mill Road and Cobb Galleria Parkway.  Located adjacent to and just south of the $145 million Cobb Energy Performing Arts Centre, set to open in September, the project is envisioned to include a 15-story, 350-000-square-foot office tower; an 18-story combination 200-room hotel and 38-unit residential condominium tower; a roughly 1,000-space underground parking facility; and amenity retail stores and restaurants.”

Earth has been moved and smoothed and construction has begun at Historic Vinings’ newest mixed use development, Vinings Main. I have a little more information regarding the 16 acre site since I spoke last time.

There will be 20,000 square feet of retail space and 30,000 square feet of office space. Of the 20,000 square feet of retail space, 6,000 to 7,000 will be set aside for restaurant space.

“The one-, two- and three-bedroom condos range in size from 900 sf to 2,000 sf and will be located in three mid-rise buildings. The three- and four-bedroom townhomes will range in size from 2,400 to 4,600 sf.”

The office and retail portion should be completed in the first quarter of 2008. The residential should be done in the second quarter of 2008. Pre-sales should start later this year. If you would like to be kept up to date on progress of Vinings Main for the purposes of purchasing a townhome or condo, please use the contact form or give me a call.

There has been a lot of talk about re-developing the Jonquil Plaza shopping center. Well, the powers that be have finally agreed to this idea and work could begin shortly on the new Jonquil Village, a 14 acre Smyrna, mixed use development on the corner of Atlanta Road and Spring Street. Here’s the basics so far:

• Plan on 300-355 condominiums
• There will be 185,000 square feet of office + retail space, including a Publix grocery store
• Space for 350 cars to park on street level and another 1,000 spaces underground

When more information becomes available on Jonquil Village I will let you know.

After I wrote my post earlier about Cobb County foreclosures rising in numbers, I checked to see how many foreclosures were on the market right now. These are bank owned properties, which means they have already been foreclosed and the bank owns the home.

There are 167 foreclosed homes on the market right now. They range in price from $57,900 to $1,100,000. If you would like to see this list and/or be kept up to date on Cobb County foreclosures, when they hit the market, please let me know by using the contact form.

Between July of 2001 and July of 2006 foreclosures in Cobb County have risen by 111%. And already, Cobb has surpassed the total number of foreclosures from 2005. Cobb county comprises roughly 7% of Georgia’s yearly 50,000+ foreclosed properties.

Where are the hotspots for foreclosures in Cobb County? Mableton is one of them. So is Austell, Powder Springs and three zip codes in Marietta, 30066, 30064 and 30008.

This problem is only going to get worse in the months to come. With the abundance of ARM’s and interest only loans in existence, and the rising interest rates, homeowners with the loan packages are seeing monthly payments soar. And when these short term notes reach the end of their terms, some homeowners won’t be able to afford to refinance due to the higher interest rates.

Back in December of last year I spoke about the new mixed use development near Marietta Square that had just passed through the Marietta City Council. Well now it looks like the old Clay Homes site will soon begin redevelopment.

The new Marietta mixed use development will be called Meeting Park. It’s now going to ba a $112 million project and could break ground as soon as next month. Included within Meeting Park will be 166 condos, 32 townhomes, and 9 single family homes. In addition to the residential portion Meeting Park will boast 78,000 square feet of retail and office space, lots of greenspace and a central park.

Prices in Meeting Park are estimated to start in the $200,000’s and go as high as the $600,000’s.

Please feel free to ask any questions about Meeting Park or any other area of Marietta real estate by using the comment fields on this blog or by calling me at any time. You can find many ways to reach me by using the contact form.

The Lake at Victoria Falls is a beautiful community in West Cobb. Offering lakeside living in an intimate community, The Lake at Victoria Falls will consist of just 32 elegant custom homes priced from the $600,000s. Of those homes, 14 will be located on the private seven-acre lake located within the community.

The one- and two-story homes at The Lake at Victoria Falls will be individually crafted to suit each homeowner’s desires. In addition to beautiful lake views, the homes will sit on large ¾ acre lots, offering even more privacy.

Homeowners can choose from a variety of home plans, all of which offer impressive architectural styles. Many of the homes will offer basements and three-car garages. The homes will incorporate all of the latest design features including custom kitchens, keeping rooms, covered back porches, media rooms, and mud rooms off the garages or laundry rooms.

Taking full advantage of the private lake on the community, all homeowners will have direct access to the lake as well as a community area where they can picnic or gather with friends. In addition, there will be a gazebo and waterfall.
Children attend Ford Elementary, Durham Middle and Harrison High schools.

If you would like more information about The Lake at Victoria Falls or have any questions about any of your West Cobb real estate needs, please use the contact page to find many ways to get in touch with me.

Knox Bardeen
(678) 471-7612

I recently spoke about Hays Farm, a new 72 home subdivision on Whitlock Avenue in Marietta. I want to show you pictures of two of the model homes in Hays Farm.

The first one is the Cottonwood:

The Cottonwood, presents Southern country flair with a large veranda-style front porch, complete with large columns and bead board ceilings. Inside, a large dining room offers plenty of space to seat a party of 12, and a convenient home office/mudroom with a brick floor, built-in desk, storage and an entry bench keeps family matters organized and out of the way. A large family room with 10-foot coffered ceilings and an intimate keeping room give lots of space for relaxing or entertaining. Like all Monte Hewett Homes in Hays Farm, the Cottonwood kitchen has granite countertops and stainless steel KitchenAid appliances. The builder has added an intricately designed tile backsplash as well. The warm, welcoming colors of the kitchen complement the adjoining keeping room. For the model, Monte Hewett Homes designed the formal living room as a study, with floor-to-ceiling, walnut stained Oak paneling and French doors. Stunning dark-stained wood floors flow through the primary living areas. A downstairs bedroom has been transformed into a covered, screened porch, which leads to a flagstone patio with outdoor fireplace and connects to a large wood deck. Four spacious bedrooms fill the upstairs. In the oversized master suite, vibrant red hues complement stunning architectural elements, including trey ceilings, finely crafted crown molding and lots of windows overlooking the backyard.

The second model is the Crestwood:

The Crestwood home, with stone and shake accents that give it a European feel. Board and batten shutters with authentic wrought iron hardware add to the classic appeal of the home. The exterior stone creates an impressive archway that leads to a covered porch, and stacked stone is also used on the interior and exterior fireplaces to create warmth and elegance. Exquisite trim fills the spacious interior, which features an open family room with 12-foot coffered ceilings. A keeping room, formal dining room and study finished in rich wood paneling also provide downstairs living areas, while a bedroom and full bath create a convenient guest suite nearby. A mud room off the garage entrance also adds convenience, with a large pantry and built-ins for shoes, toys or whatever the day’s events may bring inside. In addition to the standard stainless steel appliances and hardwood floors, the Crestwood kitchen includes custom cabinets and a beautifully carved vent hood. Like all homes in Hays Farm, this one offers hardwood flooring in the primary downstairs living areas, including kitchen, breakfast area, dining room, living room and family room. Three additional bedrooms, each with vaulted ceilings, fill the upstairs and include lots of closet space. A computer niche just outside the secondary bedrooms provides a spot for study and homework. The enormous master suite features an extra large bathroom, his-and-her walk-in closets and a covered porch just outside. Laurel River also answers homebuyers’ call for more outdoor living spaces with a fireside covered porch off the breakfast area, an oversized outdoor keeping area adjacent to the family room and an outdoor kitchen and entertainment area.

There are many other models and floor plans available in Hays Farm. If you would like to see any of them or get more information on this beautiful development please contact me at any time.

In addition, if you would like to discuss Cobb County Real Estate or have any questions regarding buying or selling a home, please use the contact form to find many ways to reach me.

Knox Bardeen
(678) 471-7612