Selling properties across metro Atlanta I come across many customers looking for the deal of a lifetime. With most of the builder single family foreclosures having already sold one market that is starting to heat up is remaining subdivisions. I have a singe family lot for sale in East Cobb that is one of two remaining from a total development of 10 homes and we are receiving two contracts a week from individual buyers and builders. Season on Lanier with its 30 boat slips is a gem in the rough for a well capitalized builder since the purchase price is well below what development would cost coming out of the ground. Expect Seasons on Lanier to adopt the new business plan of cost plus when building these properties, cost of the house plus the builders overpriced options. For help with your Lake Lanier new home purchase please call 770-990-0743 or email jeffbarnwell@remax.net
bthomas@gainesvilletimes.com
Seasons on Lake Lanier, an unfinished development in Gainesville, has been purchased by The Kolter Group LLC, a private investment group based in West Palm Beach, Fla.
The community has had a number of financial issues dating back to 2007 when Levitt & Sons, the community’s developer, filed for Chapter 11 bankruptcy. At that time, the community was left partially developed, with promised amenities yet to be constructed.
According to company officials, Kolter plans to “initially focus on selling the existing inventory and then to continue to market the project as an active adult community.”
“We are pleased to have acquired such a premier active adult development as our (entrance) into the Atlanta market,” said Rick Covell, senior vice president of The Kolter Group. “The residents have made extraordinary efforts maintaining the beauty of the community.”
Kolter’s purchase includes 14 furnished model homes, 45 complete or partially complete homes, 169 developed lots, 147 partially developed lots and 290 vacant lots and 30 boat slips
