University Clubs by Melrose, a Hilton Head, SC-based developer which specializes in building subdivisions exclusively for alumni groups, is constructing a 210-home community in Cherokee and northwest Fulton counties where starting prices will begin at $800,000. The estimated buildout value of the project is at least $168 million, area brokers familiar with the submarket tell GlobeSt.com.

Road construction for the project is under way on King Road near Birmingham Highway. Actual home construction is slated to start in June. The Georgia Tech Club will offer continuing education courses, lectures and a spa. But residents and club members don't have to be Tech graduates to participate in the amenities, brokers tell GlobeSt.com.

University Clubs by Melrose is developing a similar project in College Station, TX for Texas A&M alumni. The University of Georgia has a 900-home, alumni-targeted development under construction in Statham, GA, about 20 miles northeast of Downtown Atlanta.