An Atlanta developer, working through two real estate brokers, is attempting to buy out 28 homes on Pine Meadow Road through a neighborhood assemblage to develop 15 town homes per acre on about 19 acres as well as some commercial space along Northside Parkway.
Stephen Ficarra of PMR Development, LLC of Atlanta is trying to put the assemblage together and is working with brokers Tug Helmer and Matt Tomlinson, who have been meeting with the property owners.
The proposed town homes would increase residences on the street twnfold. Although there are only 28 homes along the cul-de-sac, there are 30 parcels involved in the assemblage, which is located south of West Paces Ferry Shopping Center.
According to one of the residents, whom prefers to remain anonymous, contracts were sent to residents late last year, followed by a meeting at the Flying Biscuit restaurant, in a nearby shopping center, on Feb. 6. The properties would have to be rezoned to allow for the density and type of proposed development.
Prices being offered for the homes are in the $750,000 range.