2990 Stone Hogan Presentation

2990 STONE HOGAN CONNECTOR Atlanta, Georgia 30331

• 20+ Acres zoned R-3 • Convenient to Downtown, Hartsfield-Jackson International Airport, future Fort McPherson Redevelopment, public transportation and major interstates/highways • Ideal for 55+ Active Adult Community or affordable housing for movie industry employees or urban farm-to-restaurant integration • NOW PRICED AT $899,000

GLORIA WILLIAMS

REALTOR®

404-429-6326 | 404-537-5200 | gloria.williams@bhhsga.com | gloriawilliams.bhhsga.com ©2017 An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity.

A RARE OPPORTUNITY:

20+ Acres in the City of Atlanta with Versatile Zoning • 2990 Stone Hogan Connector is one of the most unusual parcels of land located within the City of Atlanta.

• Currently zoned R-3 • The property includes a house, and a stable (horses not included)

LOCATION: • 9 Miles to Downtown • 6 Miles to the soon-to-be redeveloped Fort McPherson (home of the new Tyler Perry Studios and mixed-use community) • 5 Miles to Hartsfield • 3 Miles to I-285 • 1.4 Miles to Kroger, CVS and Greenbriar Mall • 1 Mile to Atlanta’s newest Planet Fitness Gym • Convenient to the airport, shopping, the interstate, public transportation and makes this an ideal, affordable housing opportunity for movie industry employees or seniors.

• Could use as urban farm for convenient supply to local restaurants or open to the public for direct purchase • The Former Tyler Perry Movie Studios (across the street) sold in December 2018 for $18.5 million.

DO

2990 STONE HOGAN CONNECTOR

AIRPORT

OWNTOWN

Greenbriar Mall

DEVELOPMENT PROPOSAL: Urban Farm/Co-op for Local Restaurants

From Restaurant-Hospitality.com, “Restaurateurs cultivate more than food by operating farms,” January 19, 2018: Restaurateurs who operate farms are growing more than just fruits and vegetables.

They’re also cultivating the ability to tell stories around the dishes that incorporate their harvests.

Operators have long embraced the cachet that locally sourced ingredients impart upon their menus, and some have learned they can take it a step further by using the yields of their own sustainable farms. Such farm-grown ingredients can serve as both a marketing tool and an educational platform for workers and the public.

At Seattle-based Homegrown Sustainable Sandwiches, which operates 13 fast-casual restaurants in the Seattle and San Francisco areas, operating certified organic farms helps the company communicate its position on the role agriculture plays in the environment, said Ben Friedman, co-founder and co-CEO at Homegrown Partners.

“We see big agriculture being a huge contributor to climate change and to a lot of our environmental woes,” Friedman said, citing the use of chemical pesticides as an example.

Homegrown offers restaurant employees the opportunity to work paid shifts on the farms during the growing season.

“It’s an amazing training tool,” Friedman said. “We can teach everyone about sustainable agriculture, and why the food tastes amazing when you grow it in certain ways, and that

spills over the counter to our guests. It’s staff education, and it’s customer education, and the two come together in a way that is important for our brand.”

One of the biggest learnings since the company began operating its own farms has been the important role that soil plays in producing crops sustainably and in helping protect the environment.

“I’ve just been floored by the value of soil, not just from a nutritional or agricultural standpoint, but from a climate/Earth sciences standpoint,” he said. “That’s been the coolest part for me.”

One of New York City’s most acclaimed farm-to-table restaurants, Blenheim, sources from its own sustainable farm in the Catskill Mountain region of upstate New York. The Blenheim Hill Farm supplies a range of produce items, including herbs and edible flowers, as well as eggs, honey, chicken, pork and lamb.

The farm includes 20 acres of pasture, a greenhouse with hydroponics and a fully equipped kitchen in the barn, where the farm processes some items for the restaurant and also hosts catered events.

Earlier this year, Blenheim owners Morten Sohlberg and his wife and partner, Min Ye, delivered the keynote speech at New York Governor Andrew Cuomo’s Sustainability Conference.

“Sustainability is not just the question of whether you’re using pesticides or not, which we do not, but it’s also a question of whether the environment will be a better place after we use it for growing food, than it was before we used it for growing food or raising meat,” Sohlberg told RH. He said his vertically integrated model of doing business helps reduce costs for the restaurant, as he can incorporate high-quality products much more affordably than if he were to buy them through a distributor.

“If we had to buy products or ingredients with the quality we serve in my restaurant that we grow ourselves, we would probably have to charge double the price for all the dishes in the restaurant,” Sohlberg said.

DEVELOPMENT PROPOSAL: 55+ Active Adult Community

This property would be an excellent candidate for a 55+ Active-Adult Community. The 20.5 Acres contained in 2990 Stone Hogan Connector would support a community of ranch condos and amenity space.

According to Headlight Data, Atlanta ranks #9 among large American cities in the size of it’s Baby Boomer (born between 1946 and 1964) population growth since 2009. Atlanta ranks #20 as a retirement destination. In the coming years, these rankings will continue to rise, given climate, healthcare, economic development, geographical location and transportation.

Currently, 55+ Active-Adult communities in Metro Atlanta that are under construction or available for resale are located, on average, 42 miles from Downtown Atlanta. Given that 2990 Stone Hogan Connector is only 12 miles from Downtown, it would meet a huge buyer demand for affordable 55+ Active-Adult communities closer to the city.

Many homebuyers in this age category want to live close to public transportation, excellent medical care, cultural, sport, dining and entertainment venues. These homebuyers also want the feel of the suburbs with secure, quiet, attractive, maintenance-free and private living space.

Using the style of some of hte existing communities in the region, this property could provide homes in a community that fills this need.

Priced form $200,000 - $325,000, product in this category is almost nonexistent and extremely hard to find inside I-285. With a minimum of 10 homebuildable acres supporting 4-6 homes per square acre, the retail revenue generated by this project could range from $8,000,000 to $19,000,000. Any portion of the property not used for home contruction may be suitable for complimentary amenities, typically found in a gated residential community.

DEVELOPMENT PROPOSAL:

Affordable Housing for Film Industry Professionals

According to a recent report by FilmL.A., Georgia is currently the number one filming location in the world, stealing the title away from California.

With the current Tyler Perry Studios practically across the street, and the future expansion in the newly redeveloped Fort McPherson Live/Work/ Play community, there is a need for affordable housing for both local and imported film idustry professionals.

2990 Stone Hogan Connector can meet this need. It is centrally located inside the perimeter, convenient to public and highway transportation, but just outside of the more expensive intown neighborhoods where rents are becoming more and more exorbitant every day.

Currently, there is one townhome community in the immediate vicinity of the property that could provide an indication as to how a similar neighborhood would fair in the current market: Stoney Pointe at Camp Creek is a community of 64 townhomes built in 2007. There is currently one active listing in the neighborhood priced at $120,000 with 3 bedrooms, 2.5 baths and 1,492 square feet. Four similar units have sold in the past year, with one selling in just 5 days of hitting the market for 99% of list price, and another for 102%.

Given that these homes are decade-old resales and the community features no amenities like a pool or clubhouse, one could infer the demand exists for brand-new construction of comparable townhomes in the area, perhaps with neighborhood amenities that could help fetch a higher price.

Given its location merely 5 miles to Hartsfield-Jackson Atlanta International Airport and so close to the heart of the city, 2990 Stone Hogan Connector would be an appealing option for industry professionals seeking affordable housing with the ability to travel inside, outside and around Atlanta as quickly as possible.

GLORIA WILLIAMS REALTOR®

404-429-6326 | 404-537-5200 Gloria.Williams@BHHSGA.com GloriaWilliams.BHHSGA.com ©2017 Berkshire Hathaway HomeServices Georgia Properties. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Equal Housing Opportunity. Information deemed accurate, but subject to change without notice.