A developer plans to build 300 upscale single-family homes in Cumming on 143 acres purchased from NASCAR champion Bill Elliott.
SunBelt Atlanta/Cummings I LLC said the $120 million project, the second major project announced for the Forsyth County area in recent weeks, will be off Matt Highway, or State Route 369.
Homes will be priced from $350,000 to $500,000.
The developer closed on the property Friday, spokesman Roland Alonzi told The Atlanta Journal-Constitution. SunBelt paid Elliott, a NASCAR hall of famer, $4.2 million for the land.
SunBelt said it is working with local homebuilders to construct the homes. The project will get under way in October.
SunBelt said the Forsyth County development represents the first of 10 projects planned by SunBelt for the area over the next two years.
This is the second major development announced for the Cumming area in a month.
Lennar, a Miami-based homebuilder, is proposing a $280 million project consisting of houses and townhomes in Forsyth County. The proposed Mountain Crest project will consist of 572 single family homes and 124 townhouses west of Cumming along Chamblee Gap.
The Lennar project will be built in multiple phases through 2022.
