According to today's issue of the Atlanta Journal Constitution, the city council of Duluth, Georgia has put a moratorium on "big-box" construction projects - in other words, construction projects of greater than 75,000 square feet in size - for 6 months.
Three projects that were currently in the works that will be affected by this moratorium are:
•A Wal-Mart Supercenter on Peachtree Industrial Boulevard
•An assisted-living center, also on Peachtree Industrial
•A hotel development, on North Berkeley Lake Road
Residents of the Duluth area, especially near where the Wal-Mart had been proposed, have been extremely concerned about the impact of such construction on their home values.
A few of our clients even called us, asking if we thought they should try to sell before Wal-Mart broke ground, especially since Wal-Mart is scheduled to appear before the zoning board to ask to be exempt from certain city building codes. Thanks to Isabella, a friend and client who emailed me this article today!
But for now, the citizens of Duluth, Georgia, can breathe easy, as the city council takes some time to ponder the effects of its fast growth.
If you live in the Duluth, Georgia, area and are concerned about your home's value, call The Gebhardt Group today for a complimentary market analysis.
The Gebhardt Group
RE/MAX Greater Atlanta
10220 Medlock Bridge Road
Johns Creek, GA 30097