A developer is planning a massive residential and retail development on a 1,300-acre tract of farmland in the tiny town of Palmetto in south Fulton County.

The master-planned community, known as Foxhall Village, is being developed by Merrill Trust Communities & Resorts. Plans call for 5,400 residential units and 1.1 million square feet of commercial space, to be built out over a 20-year period, according to development papers filed with the state.

The property would need to be rezoned to allow for housing and commercial uses, said Terry Todd, Palmetto's city administrator. The site was annexed by the city in 2006 at the developer's request.

The property is less than a mile from South Fulton Parkway, a major thoroughfare that offers a 20-mile drive to Atlanta's Hartsfield-Jackson International Airport.

The development has the potential to dramatically change Palmetto, a quiet town of just 4,500 people.

Officials with Merrill Trust could not be reached for comment.