News and Legislative Updates
*** Building Permits Up in Polk County, but Not Much New Construction Yet
Despite the fact that land is selling slightly higher and faster in Polk County these
days, those sales – and the accompanying building permits – have not yet started
translating to new construction. County Building Inspector Brian McCray called
the 10-percent increase in new building permit applications “one of the most
encouraging trends” he has seen lately, but noted that developers are not yet
investing in entire subdivisions in the county. At this point in time, McCray added,
“They’re buying some of the lots out of them, working them from there”3.
Another local agent noted that land is finally selling again outside of the auction
arena. Previously, she said, most land that was being sold was going to auction
where it was not getting top dollar.
***Paula Dean Bids Goodbye to her $12.5-Million Savannah Mansion
If you need 28,000 square feet of butter-fed goodness in the heart of the South,
then Paula Dean’s Wilmington Island River home in Savannah, Georgia, could be
just the dream home you are looking for. The home includes two guest cottages,
a chicken coup, a croquet court, and 4 acres that sport a beautiful pool, river
access, a dock and dock house, and an eight-car garage4. The actual home has
eight bedrooms and nine bathrooms.
*** Historic Buckhead Multifamily Project Hits t he Market
The Metropolitan at Buckhead, one of the first multifamily projects developed in
Atlanta, has hit the market after Aslan Realty Group bought the property for
$41.5 million in 2007. The Metropolitan, which was originally a 431-unit complex
built in 1961, is now listed above $50 million thanks to its proximity to Lenox
MARTA station, which is slated for redevelopment in the next few years, high
occupancy, and the ability for a new owner to raze two of the existing buildings
3
http://www.northwestgeorgianews.com/polkfishwrap/business/local/building-permits-on-rise-real-estaterecovering-in-polk/article_7e320662-142d-11e5-ba4d-a374cc61d34e.html
4
http://rismedia.com/2015-06-14/butter-queen-paula-deen-lets-go-of-georgia-estate/