Peachtree Corners has approved a development of up to 916 homes for adults 55 and older on the banks of the Chattahoochee River.
The development, announced Monday, will be built on 115 acres of land off East Jones Bridge Road. The gated community will include townhomes, condominiums and single-family homes for “active adults,” as well as assisted living and memory care facilities.
The community will be next to Jones Bridge Park and a little more than a mile from Peachtree Corners Town Center, a recently opened mixed-use development.
The plans approved by Peachtree Corners stipulate that there be at least 700 homes, and plans from developer The Providence Group include 916 homes.
The location of the land and the city — on the edge of Gwinnett and near north Fulton and Forsyth counties — was a key selling point, according to Warren Jolly, president of the Providence Group.
“With a robust aging population, we saw heavy demand in the market for a community of high-quality homes specifically built with the needs of the 55+ active adult community in mind,” Jolly said in a press release.
Peachtree Corners’ older residents are increasingly seeking to downsize from larger family homes to smaller residences, said Diana Wheeler, the city’s community development director. The new development would allow these residents to stay in the city while moving into smaller homes.
“Right now, there are not a lot of options focusing on people that are retirees,” Wheeler said.
22% of Peachtree Corners residents are 55 years old or older, meaning more than a fifth of those already living in the city would be eligible to live in the new development.
The Providence Group expects to begin construction in January, with the first homes available for sale at the end of 2020.
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