MARIETTA — Slowly but surely, one of Marietta’s key developments is rising out of the ground, with the Pacific Group planning 25 new homes in the Manget at Historic Marietta neighborhood.
Councilwoman Annette Lewis, who lives in the area, is pleased.
“The new development that’s coming in, the density is a lot lower than what was originally proposed, so we’re all excited to see that come about,” Lewis said.
What was originally planned as townhomes has been revised to single-family detached homes.
Back in 2004, the Manget neighborhood, south of Roswell Road and east of the Square, was a problem.
The neighborhood school, Park Street Elementary, had the highest turnover rate in the system, City Manager Bill Bruton said. “The crime had really gotten out of control in that area, and it was negatively impacting a lot of the area around it, and it was getting worse,” Bruton said.
The heart of the problem was 30 “quadplex” buildings — duplexes stacked on each other — that went for weekly rentals.
In 2005, the city used a tax allocation district to buy those rental units, on a 7.8-acre tract, for $5 million, then demolished the duplexes. It then sold the property to Hedgewood Homes for about $1.5 million, Bruton said.
Hedgewood expanded its footprint by buying surrounding acreage and received approval to build 265 units on 17.5 acres that were to be a mix of single-family detached townhomes and condos.
Hedgewood was able to build 12 single-family homes, 14 townhomes and an eight-unit condo building on part of the site before the recession struck. BB&T foreclosed on the property in 2008.
Local developer Dan Burge of Marietta stepped in to buy the property out of foreclosure, selling two lots to Piedmont Residential, which built two homes on Victor Street that advertise in the $300,000s, one at 2,600 square feet and one at 2,900 square feet, said Brian Binzer, the city’s development services director.
Burge sold the rest of the property to the Pacific Group in December.