Pricey lots on a subdivision hugging Lake Lanier likely will be ready to be marketed by June 1, the developer said Thursday night as the 45-lot plat was approved by the Hall County Board of Commissioners.
David Mercer of Development Consultants got approval to rezone almost 37 acres, changing it from vacation-cottage zoning to planned residential development.
Plans call for two lots per acre with a minimum lot size of just more than 21,780 square feet, according to Planning Director Srikanth Yamala.
Mercer said the exact pricing of the lots will be determined after appraisals.
But he estimated off-lake lots to sell in the $700,000 range and up to $1.5 million for lots on the lake. He said each lot sale includes a dock slip.
Among the conditions tagged to the development is that all the houses be at least 2,000 square feet. However, Mercer said that’s only on the main floor. He said square footage would increase If a basement and a second floor are added.
“When we do the restrictive covenants, we will improve that and it will become a much larger number,” the developer said. “Chances are the housing in there will be 4,000 to 5,000 feet.”
Mercer said the houses that get built on those lots likely will cost in the low-to-upper million-dollar range.
The subdivision would be between Point South Drive and Sunrise Cove Marina, according to the plans.
Mercer said the new development will be “a mirror” of Point South, which he also helped to develop.
“This is a better piece of land than Point South,” he said. “We hope to get started immediately.”
Addressing concerns from nearby residents, Mercer said he agreed to place the docks where they could not be seen from Point South.