Sale Of 13.1 Acres Will Bring 77 New Homes To Canton Heights

CANTON, GA — The land team of Ackerman & Co. and Pioneer Land Group said Monday that it has sold a 13.1-acre residential tract in the Canton Heights development for $2 million. The construction-ready site will accommodate the construction of 77 single-family homes in the final phase of Canton Heights, a housing community that will eventually have 176 residences.

Ackerman & Co. and Pioneer Land Group represented Drapac Capital Partners in the sale and KM Homes was the buyer of the land. The land team’s marketing efforts and the ability of St. Bourke, Drapac’s asset management partner, to obtain a land disturbance permit expedited the transaction time frame and resulted in the property selling at 22 percent above the original asking price, Ackerman said. To date, the Ackerman and Pioneer group has represented Drapac in land sales totaling $27.9 million.

Canton Heights, located off Highway 20/Knox Bridge Highway west of the city, is about 1.5 miles from the Marietta Highway interchange with Interstate 575.

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“Demand for residential lots is extremely high in Cherokee County, but due to rising land prices and zoning restrictions, this parcel was one of the few remaining sites available for builders to develop detached homes under $250,000,” said John Speros, senior vice president of brokerage with Ackerman.

The new homes will be served by Canton Heights' existing pool and cabana. KM Homes, which has developed homes in metro Atlanta since 1985, specializes in building single-family homes starting at $175,000.

Images via Ackerman & Co.