Million-Dollar Homes Get Zoning Nod

East Cobb's lucrative real estate market is getting another subdivision at the very high end of the price scale.

A zoning decision by the Cobb Board of Commissioners this week should leave little doubt about the very strong health of the East Cobb real estate market.

By a 4-0 vote on Tuesday (with chairman Tim Lee absent) the commissioners approved a request by Brooks Chadwick Capital, LLC, to rezone 6.6 acres on Woodlawn Road, just south of Lower Roswell Road, for 21 homes that will cost an average of $1 million.

Each home will contain between 4,000 and 6,000 square feet of space. The development will be located in the heart of the Walton High School district, and a short walk from Dickerson Middle School.

As The Marietta Daily Journal reported when the request was before the Cobb Planning Commission earlier this month, East Cobb's public schools are helping to feed the growing demand for new luxury homes. Brooks Chadwick Capital attorney John Moore told the newspaper:

“What we’ve found is that homes located in Walton, Pope and Lassiter school districts are moving as fast as you can put them up. People realize that there’s no more land left, so we expect these to go very quickly because of the school districts.”

Drake Realty of Greater Atlanta has listed a total of 62 homes valued at $1 million or more that are currently available in East Cobb (ZIP codes 30062, 30066, 30067, 30068 and 30075) with most under $1.5 million.

A report produced earlier this year for Harry Norman, REALTORS indicated that after flat luxury home sales in 2011, the East Cobb market was showing signs of a rebound.

“East Cobb has not been slowed by a lack of interest, but rather a lack of new inventory,” said Harry Norman realtor Donna King, who sells in the East Cobb area, concluded in the report.

EastCobber1 October 18, 2012 at 12:02 AM
Just what Marietta needs...another neighborhhood! Im no math wizard, but if people cannot sell their homes, why in hell are you building more? Within 5 miles of these new homes, are thousands of homes for sale. Including BRAND NEW ones that have been sitting empty for years? Who are these commissioners and why are they getting reelected year after year? Marietta has seen sky high foreclosures rates and has the longest time of homes sitting on the market...you do the math. Shame on you Cobb board of Commissioners!
Mit October 18, 2012 at 01:09 AM
Perhaps the most naive posting in the history of the patch.
M lind October 18, 2012 at 12:30 PM
How is Walton going to absorb more students into its already bursting walls?
Pam J October 19, 2012 at 01:59 PM
It just looks like the housing market is getting better because the millionaires still have their money, so these houses will probably sell. But I doubt very seriously if their children will go to public schools.
Aaron Smith March 06, 2013 at 03:28 PM
East Cobb is going to see an influx of homebuyers who are fleeing the disastrous Dekalb County School System districts. Is East Cobb ready for the Dunwoody migration?


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