Site Plan - Pacific Group

Bridle Creek
City of Locust Grove
52 Developed, Platted lots starting at
$35,000 per lot on a takedown
General Information
City/County:
Submarket:
City of Locust Grove, GA
Henry County (Tanger Blvd)
Total Purchase Price:
Status at Close:
Starting at $35,000 per lot on a takedown
Final Plat, Entitled & Developed – plus raw
land for future development of SF lots
52 developed lots. Site is entitled for 216
lots
Total Lots:
Executive Summary
Bridle Creek is located in the City of Locust Grove.
It has excellent visibility and access to Highway 42
and Interstate 75. The housing recovery in Henry
County that began within the past year is
expanding and has reached Locust Grove, which is
in the southern part of Henry County. Most of the
large builders are now focusing on Henry to
expand their operations into more affordable price
ranges. 52 of the 216 lots, along with the
commercial acreage, were developed and platted
in 2008 with the remaining 156 lots entitled, but
in a raw condition.
Bridle Creek is well suited for a large builder due
to its large lot sizes, great visibility, high
slab/basement ratio and flat topography.
Development costs for future phases will be
reasonable due to the flat topography.
Bridle Creek Platted Lots & Final Plat Notes
Phase I, 52 lots, is currently developed and has received Final Plat. Minimum lot width is 75’ with 10’ side setbacks.
Overall Site Plan
Location:
Bridle Creek is located on GA Hwy 42 just
south of Downtown Locust Grove. Tanger
Boulevard less than 2.5 miles from the
Tanger Outlet Mall and I-75 interchange at
Bill Gardner Parkway. Bridle Creek is
considered part of the Tanger Boulevard
area of the City of Locust Grove .
Tanger Outlet Center opened for business
in the fall of 1994 in Locust Grove and is
located less than 3 miles from Bridle
Creek. Since that time many new
businesses have made Locust Grove their
home. Tanger Outlet Center is now
considered a regional outlet shopping area
whos tenants include Coach, J.Crew, Jones
New York, Liz Claiborne, Gap, Banana
Republic, Old Navy, Pac Sun, Polo Ralph
Lauren, Reebok, Tommy Hilfiger, Nautica,
Aeropostale, Jockey, Eddie Bauer, Nike
and more.
Strong Rock Christian School, located
within 4 miles of Bridle Creek, is the
largest private school campus in Metro
Atlanta. Strong Rock offers K-12 private
Christian education at a fraction of the
cost of typical Metro Atlanta Private
Schools.
Location Advantages
Close proximity to the manufacturing, warehouse and industrial space that Henry County boasts due to its location between
the Port of Savannah, the third busiest port in the US, and the Southside of Atlanta.
Close to the Atlanta Airport and South Atlanta logistics hub and easy access to I-75.
Located within the Tanger Boulevard “Planned Development” district of the City of Locust Grove. This District is an area
zoned and targeted for residential growth within the City Limits. A number of existing and active communities surround this
site including portions of the previously purchased LGS-HP Henry tract.
New Housing Activity
There has been significant increased new housing interest and activity in Henry County. Due to its strategic location,
historically Henry County was one of the fastest growing and best performing counties for new homes sales in the 22 county
ATL metropolitan region and showing signs regaining that status.
Market
Henry County, including the City of Locust Grove has a population of over 200,000, it is the largest ground transportation hub in the Atlanta metro region due to its location along I75. I-75 being the access corridor between the Port of Savannah (the 3rd busiest port in the US in 2103) and Atlanta’s distribution and logistics centers. For example, In 2014, Home
Depot Opened a new Logistics center in Locust Grove employing 350.
Residential Permits in Henry County increased by over 300% from 2013 to the 3rd quarter of 2014. Albeit permits are still well below their highs of 2005, this surge in permit activity
indicates that Henry County is being sought after again.
Henry County was the fastest growing county in the state prior to the Great Recession. Since 2012 investors as well as local and National builders began focusing on Henry County
buying up the inventory of vacant lots at very favorable prices. Due to the popularity of Henry County, investors are now focusing on good land positions, especially land parcels that
are entitled. Due to the fact that Henry County permitted overdevelopment prior to the Great Recession, new entitlements are difficult to obtain making entitled property more
valuable.
Eagles Brooke in Locust Grove
Lot Sales – SmartNumbers:
Eagles Brook – DR Horton (Crown) paying $22.750 on a takedown.
Jubilee – Paran Homes, paying $19,500 on a takedown.
Heron Bay – DR Horton, paying average of high $30’s on a takedown
5521127
Lot:
715
5379843
Lot:
735
5516752
Lot:
809
5381866
Lot:
831
View Homes | 360 Tour | Map
Multilevel
5
Bed
3/0 Bath
Slab
$259,894
SF
Multilevel
5
Bed
3/0 Bath
Bsmt $328,135
SF
Multilevel
4
Bed
3/1 Bath
Slab
$343,487
SF
Multilevel
5
Bed
4/0 Bath
Bsmt $363,009
SF
Multilevel
5
Bed
Jubilee in Locust Grove
5387702
Lot: 4
View Homes | 360 Tour | Map
3/0 Bath
Slab
$195,990
SF
Grove Park – No Lots Sales Data
Eagles Brooke in Locust Grove
5363608
Lot:
841
5513593
Lot:
855
View Homes | 360 Tour | Map
Multilevel
5
Bed
4/0 Bath
Bsmt $377,738
SF
Multilevel
4
Bed
3/1 Bath
Slab
SF
$286,735
Heron Bay Golf Country Club in Locust Grove
Subdivision Stats for Zip 30248 Jan 2014 to
December 2014
RANK
1
2
3
4
5
6
7
8
9
10
11
12
13
14
SUBDIVISION
UNITS
EAGLES BROOKE
39
SAGE CREEK
21
VILLAGES AT CENTERRA
18
HERON BAY
11
KIMBELL FARMS
7
PARKVIEW
7
PRISTINE FOREST
6
WESTIN PARK
6
TANGER RIDGE
3
MADISON ACRES
2
MCKIBBEN PLACE
2
WEEMS PLANTATION
2
CARRIAGE GATE
1
JUBILEE
1
MKT
SHARE MIN SALE
30.95
$226,970
16.67
$208,000
14.29
$127,000
8.73
$209,990
5.56
$159,900
5.56
$154,900
4.76
$149,650
4.76
$232,500
2.38
$149,900
1.59
$172,112
1.59
$183,000
1.59
$237,900
0.79
$139,900
0.79
$159,900
MAX
SALE
$423,483
$324,321
$159,500
$310,098
$184,400
$194,900
$159,650
$249,900
$157,990
$345,000
$232,850
$249,900
$139,900
$159,900
AVERAGE
SALE
$309,225
$257,858
$145,488
$248,779
$174,686
$168,689
$156,458
$238,633
$152,597
$258,556
$207,925
$243,900
$139,900
$159,900
View Homes | Map
5505217 Lot: 118
4
Bed
3/1
Bath
Bsmt
$415,900 SF
5505173 Lot: 119
4
Bed
3/1
Bath
Bsmt
$418,500 SF
5505190 Lot: 159
4
Bed
3/1
Bath
Slab
$331,000 SF
5505179 Lot: 160
4
Bed
3/1
Bath
Slab
$332,000 SF
5503358 Lot: 161
5
Bed
4/1
Bath
Slab
$326,000 SF
5364863 Lot: 34
5
Bed
4/1
Bath
Slab
$363,810 SF
5364904 Lot: 36
5
Bed
4/1
Bath
Slab
$336,804 SF
4
Bed
2/1
Bath
Heron Bay in Locust Grove
View Homes | Map
Grove Park in Locust Grove
View Homes | Map
5503250 Lot: 168-D
Slab
$138,900 SF
Heron Bay Golf & Country Club in Locust Grove
5
Bed
5341274 Lot: 157-I
View Homes | Map
4/1
Bath
Slab
$349,900 SF
Heron Bay in Locust Grove
View Homes | Map
5317218
Lot: 35
4 Bed
2/1 Bath
Slab
$210,383
SF
5364921
Lot: 2
5 Bed
4/1 Bath
Slab
$232,990
SF
5370890
Lot: 60
5 Bed
4/1 Bath
Slab
$406,545
SF