Grading has begun for one of anew condo developments in Newnan Georgia. This one is located near the roundabout of Greisen Trail and McIntosh Parkway.
More details in a recent News print article: https://times-herald.com/news/2022/02/condo-development-coming-to-greison-trail
According to the article, these will be townhouse style condos and there are to be 96 of them constructed.
Condos in the area are in extremly limited supply and high demand. According the Georgia MLS, There are currently (as of 2/7/22) zero condos for sale in Coweta County, and just 21 were sold over the past year with most being townhouse models, with aproximately 2 beds and 2 bath with a one car at a medium sold price of: $230,000.00. Days on market averaged 3. With more than half of area residents commuting to work outside of the County, condos are a great choice. Moreover more construction will meet the needs of demand and help provide selection as well as help curb the steep increase in prices as demand continues to stay strong amidst limited supply. Another condo project with similar number of units is planned for the area of Shenandoah and Lower Fayettevill Rd.
The widening of Lower Fayetteville road is expected to help relieve congestion and there is a planned round about for this intersection. McIntosh and Greisen Trail just completed a new roundabout project and the extension of the LYNC trail system will be accessible making this a terrific location for new housing.
I have no information as of the writing of this as to when the condos will go on market or for how much. With condo's the CC&R's will determine how many may be owned by an individual owner and how many if any may be rented out. Typically the owner is responsible for the ownership of the condo interiors where as the association maintains the grounds and building exteriors.
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