Voyles stepped into the deal after Buckhead, GA-based Focus Development Inc. withdrew its zoning request on a 44-acre tract surrounding the small airport, 30 miles north of Downtown Atlanta, Forsyth County planning officials confirm. Voyles will pay Mathis the same price offered by Focus, $1.7 million.
At $110,000 per acre, or $2.53 per sf, the 15-acre parcel is commanding top price in a rural area that is only now beginning to be discovered by metro area developers and outside development groups, brokers tell GlobeSt.com.
Voyles won't have to ask Forsyth County officials for a rezoning on the site since he plans to rebuild existing hangars and sell them for about $50,000 each, brokers intimate with the deal tell GlobeSt.com. Voyles also plans to build a clubhouse and observation deck on the 44-year-old airport property.
Focus Development, however, needed the rezoning to build 110 homes on a planned 44-acre subdivision. Focus planned to buy 29 acres surrounding the airport area in deals with other individual owners, brokers tell GlobeSt.com.
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