5030 Sugarloaf Parkway, Atlanta, GA, 30044, US

Sugarloaf 316

Asset Description

JLL is pleased to present the opportunity to acquire 100% Fee Simple Interest in Sugarloaf 316, a 13.75 acre fully entitled multifamily development opportunity in located in Gwinnett County. Sugarloaf 316 is site plan-approved for 300 multifamily units and 30 townhome-style carriage lots by the Gwinnett County Planning Board. The opportunity presents an incredibly attractive opportunity for a developer to move into a high barriers-to-entry submarket where new multifamily projects rarely get approved.

Located at the intersection of Sugarloaf Parkway and Cruse Road, the property is located in a highly amenitized retail corridor within a 5-minute walk from Publix, 15 restaurants, and dozens of other businesses. In addition, the property Is adjacent to The Gwinnett School of Mathematics, Science, and Technology, which is ranked the 19th best high school in the country and the #1 high school in Georgia. In addition, The Gwinnett Technical College, with a full time enrollment of 15,000, is located 2 minutes away from the property. The property is a 15-minute drive from dozens of grocery stores and malls, several charming historic downtowns, and countless parks and scenic areas. The property is also minutes away from I-85, allowing future residents to get to Midtown Atlanta and Buckhead within 20-30 minutes.

Gwinnett County is fast approaching 1,000,000 residents, with a projected population of 997,000 in Q3 2023. The county’s population has grown more than 17% over the past 10 years. Gwinnett County is still undersupplied, with 10,600 units needed to fill the housing gap based on recent population growth. Sugarloaf 316 is an extremely rare opportunity to enter the Gwinnett County market immediately and break ground without going through the arduous, extensive rezoning process.

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Investment Highlights

Extremely Rare, Zoned and Site Plan Approved Development Opportunity in a Housing Constrained Market: A zoned development opportunity for 300 garden style multifamily units and 30 townhouse-style carriage units in Gwinnett County is seldom seen, since developers themselves often go through an arduous multi – year entitlement process.

Accelerated Timeline to Achieve an LDP: With significant amounts of Due Diligence already completed on behalf of the client, a developer would be able to secure an LDP and break ground in mid-late 2024.

Cornerstone Placement in a Mixed-Use Masterplan: The property is located on the southeastern corner of Foxfield’s Sugarloaf Parkway project, which has 2,200,000+ sf of industrial development and 15,000 sf of retail space.

Highly Amenitized "Micro Market": The property is adjacent to the best high school in the state of Georgia, steps away from Publix, and 5 minutes away from dozens of big-name restaurants, shops, and small businesses.

Grade A Location in a Regional Context: The property’s placement near I-85, in addition to having three points of ingress & egress gives Sugarloaf 316 access to dozens of grocery stores and malls, a plethora of local businesses, and an approximately 30-minute drive to get to Buckhead, Midtown, and Downtown Atlanta.