An Atlanta-based developer plans to build more than 104 townhomes, 74 single-family homes and 310 apartment units, all of which will be rentable, in the Buford area.
The Gwinnett County Board of Commissioners approved two rezoning requests on Tuesday that will allow RangeWater Real Estate LLC to build on 47 acres at the corner of Azalea Drive and Buford Drive.
A public hearing was held Tuesday, but no residents spoke in opposition.
Commissioner Jasper Watkins, the lone dissenter of the rezonings, questioned the affordability of the townhomes and single-family homes and how it could affect the community.
Monthly rent for the apartments would likely start at $1,200-$1,400 but could be higher, said Shane Lanham, an attorney representing the developer.
Tenants could pay anywhere from $1,500-$2,000 per month for the townhomes, Lanham said, while renters would likely pay $2,000-$2,500 to live in the single-family homes.
Watkins said it’d be difficult for renters to build enough equity to later purchase their own home elsewhere. “How do you transition from a $2,400-a-month rent to a single-family home? I’m having a hard time seeing that,” he said.
Home preferences have shifted in the last few years, Lanham said. People are starting to rent out of preference rather than necessity, he said.
Lanham said the development will diversify the housing supply in the county. The development will give residents who prefer to rent more options, he said.
“There are people that are renters by choice,” Lanham said. “... Some people see home purchasing as a major investment; other people are skeptical of investing in a home and would prefer to make investments elsewhere.”
Commissioners tabled separate rezoning requests on Tuesday that would allow another developer to construct a large rental community in the Mountain Park area. Watkins and residents voiced similar concerns about the ability for renters to build equity and transition into home ownership.
The Buford-area development, called Azalea Village, is expected to be completed by 2025. It will have two entrances on Azalea Drive and two on Buford Drive. There will be a small section of commercial space on the site, likely consisting of a coffee shop and live-work units, Lanham said.
The development will be across Buford Drive from existing subdivisions. Residents at Azalea Village will live close to Coolray Field, the Exchange at Gwinnett and Mall of Georgia.
About the Author
