Smyrna - Venture Homes looking to build townhomes (Vinings, Millen: neighborhoods, buyers)

[Queto]

To all:
Venture just put a sign up.
The Park on Church homes from the high 100,000
by Venture.
So the idea of homes in the 200,000 is out and all the neighbors around church will not benefit, properties will no go up in price.
The stile will be slightly different but same area is like the ones across the road from the school they look slightly different than the ones in Huntington but even distribution of the homes are very similar and They did not do nothing for the neigborhood neither did the school.

[skiime]

^^^Is this English? I got a headache trying to understand what you just wrote.

[JoeP]

I find it strange that this is the second poster (or is it?) to join city data to inaccurately make claims about the development. Something is strange...

[RedClear55]

Sign went up over 3 weeks ago. I literally drive by there twice a day. I get the concerns about quality of the area. I literally asked the developer why he was pricing it so low.

Reality is...
1) Ward 5 is the poorest, thus it is priced for the area.

2) with the weird property and flood zoning issues, this was a best case for the city and seller

3) this is built in city limits, thus city taxes must be considered. My guess is that it will be priced for downsizing boomers and next wave of millenials looking to get a piece of the American Dream

4) we need more residential headcount to bring in more retail. Otherwise, the new strip next to Kroger will never fill up.

Remember, Smyrna Grove is going just north with 250 units. I would argue, Church is a better location currently.

[Augatl]

Originally Posted by JoeP

Not to be rude, but you joined city data to revive an old thread.

"Starting in the 100s" is not accurate. The comments below say the low end ones start in the "$190 to" range
which means most likely ALL of them will be above $200,000.

These are townhomes, not single family homes. Does everything new have to to be in the $300-400,000 range (or more). That's insane.

Actually there are no new townhomes in the area for less than $200, so there is legitimate cause for concern regarding these. The townhomes around the corner off of Concord are over $300k and the ones being built off of South Cobb near King Springs Rd are starting in the HIGH 200's. So there is a large discrepancy when comparing pricing of new townhomes in the area. Also, what does me reviving this thread have to do with anything? When I noticed the sign, I googled the topic and this thread came up so I posted. I do believe that's the point of threads, for people to post on them when the topic matches their topic of interest or concern. I also was not a resident when this thread was originally started. I'm not here trolling, as it seems some people are doing. I wanted helpful insight as to why this was green-lit considering the townhome pricing in the area.

[Augatl]

Originally Posted by RedClear55

Sign went up over 3 weeks ago. I literally drive by there twice a day. I get the concerns about quality of the area. I literally asked the developer why he was pricing it so low.

Reality is...
1) Ward 5 is the poorest, thus it is priced for the area.

2) with the weird property and flood zoning issues, this was a best case for the city and seller

3) this is built in city limits, thus city taxes must be considered. My guess is that it will be priced for downsizing boomers and next wave of millenials looking to get a piece of the American Dream

4) we need more residential headcount to bring in more retail. Otherwise, the new strip next to Kroger will never fill up.

Remember, Smyrna Grove is going just north with 250 units. I would argue, Church is a better location currently.

Thank you for a helpful response.

[beachale]

As an appraiser for 30 years, stoops don't add to value. Stefz made very good points, all that would be considered in an appraisal.

[netdragon]

Originally Posted by Queto

To all:
Venture just put a sign up.
The Park on Church homes from the high 100,000
by Venture.
So the idea of homes in the 200,000 is out and all the neighbors around church will not benefit, properties will no go up in price.
The stile will be slightly different but same area is like the ones across the road from the school they look slightly different than the ones in Huntington but even distribution of the homes are very similar and They did not do nothing for the neigborhood neither did the school.

Actually, those new townhomes are small townhomes priced higher than their competition. Church Rd is in Northern Smyrna for one on the edge between the seedy and fully established part of Smyrna, though with Ennisbrook and a few other experiments doing well it's probably not far off. However, that part of Church Rd, desirable as it is, has mostly old and very small 2-3br townhomes right now. Most built in the 80s or earlier. Those townhomes experienced lots of foreclosures and other issues and the 2-3 br townhomes just got over the $120ks again. Venture's townhomes will be a boost. Keep in mind that builders tend to raise the prices midway through development. Especially in communities like townhomes where people want it to be an established townhome community before they move in. The first townhome row in a community doesn't seem very townhome-like.

Originally Posted by StefZ

The townhomes around the corner off of Concord are over $300k and the ones being built off of South Cobb near King Springs Rd are starting in the HIGH 200's.

Comparing apples to oranges. First of all, the Concord Rd townhomes and the ones being built on S. Cobb - Laurel Gate - are 4br, 3-story, upgraded townhomes, like what you find along the Silver Comet Trail. As are the Verandas - a Venture community a little to the North. I believe six of the buildings, and thus most of the units, will be smaller 2-3 br 2-story townhomes like the others neighboring this community on Church Rd. Only one building, and maybe a half dozen units, will be full-size three-story townhomes. So size is the biggest difference. The two you mentioned are also closer to the interstate. Concord Rd and King Springs is a very, very established area - as desirable as the E-W Connector part of Smyrna. They are in the King Springs School district, though that probably doesn't matter as much for townhomes but it does affect the aggregate price/sq foot (even in Smyrna where private schools are popular). Church Rd is getting nice, but it's a little newer, really getting nice in the early 2000s. E.g. Oak Park are only 3br but being built near I-285 on S. Cobb and are going to probably end up in the high $200s despite the small size. You're not going to see that happen on Church Rd for a while and it'll always be behind these others. If Windy Hill becomes "the place" in the not so distant future with the stadium on the other end and the boulevard concept, then anything could happen.

[netdragon]

Originally Posted by StefZ

I wanted helpful insight as to why this was green-lit considering the townhome pricing in the area.

Also, Smyrna can't deny a development over the price of the townhomes.

Nevertheless, as I said, these small townhomes will be a boost to the market on Church Rd for the price they are going, considering their small size.

[JoeP]

As an appraiser for 30 years, stoops don't add to value. Stefz made very good points, all that would be considered in an appraisal.

and look at that another first time poster in this thread... what is it about this thread that draws people to join city data to comment...??