Land Advisors Organization’s Atlanta office facilitated the sale of a 745-acre master-planned community (MPC) development to Hoyer Investment Co. (HIC) for $11.5 million at Altama in Brunswick, Georgia. The project will include residential and mixed-use components, and HIC has secured D.R. Horton as a residential builder in the development.
“We are thrilled to be working with D.R. Horton and bringing this exciting project to Brunswick, Georgia,” says Stefan Hoyer, founder and CEO of HIC. “The feasibility of this project can largely be attributed to the diligent work by Land Advisors Organization managing the property and entitlement process. We look forward to the opportunities and offerings that this development will bring to the Brunswick community, and to its future businesses and residents.”
Plans for the 745-acre MPC include single-family, multifamily commercial, institutional, recreational, and freeway commercial components. The land parcel is zoned with a potential density of up to 2,301 residential units and more than 42 acres of commercial development.
“Altama is an excellent community development opportunity given its location along Interstate 95, conveniently located halfway between Savannah, Georgia, and Jacksonville, Florida, and in a region with strong economic growth like the new Hyundai Motors electric vehicle manufacturing facility,” says David Moore, CCIM with Land Advisors Organization’s Atlanta office. “This parcel is located squarely within the area’s immediate growth path and brings the added benefit of being adjacent to a large conservation area as well as being very close to beaches and convenient shopping and retail in Brunswick and Saint Simons.”
The full Altama MPC includes 5,082 acres, including 3,148 upland acres. The site is divided into three quadrants along Interstate 95. Sea Island, Saint Simons Island, Jekyll Island, Sapelo Island, and Cumberland Island are all 20 to 35 minutes away, according to Land Advisors Organization.