Locally-based Jeffco Investment Properties plans 73 acres of commercial space, 92 apartments and 437 single-family homes on 290 acres located on a 555-acre tract along Old Swimming Pool Road, the US 129 bypass and GA 11, according to papers filed with local government planning officials.
Quad Cities Planning and Development, comprised of four Jackson County municipalities, is scheduled to review the rezoning request next week. The Jefferson City Council will publicly discuss the proposal for the first time Aug. 4.
Area construction industry estimators tell GlobeSt.com the proposed mixed-use development would have an estimated build-out value of at least $75 million. They base their figure, in part, on an estimated $80,000-per-unit construction cost for the 92 apartments and an average $100,000-per-unit construction cost on the 437 single-family homes.
About 178 acres along both sides of the North Oconee River would be preserved for parks, according to the report. A total of 525 acres are located in the city of Jefferson. The landowners are asking the city to annex the remaining 30 acres outside the city.
Dudley Ottley and four local partners have owned the 555 acres for 30 years, according to a published report. The partners haven't selected a developer for the venture.
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