Turner Lake Road – 31.5 Acre Potential Multifamily & Townhome Covington Development Site
avalon / September 28, 2021
Avalon Real Estate Partners is pleased to present this opportunity to purchase + 31.50 acres on Turner Lake Road located in the City of Covington, Newton County Georgia. The site is approximately 0.2 miles south of I-20 and 1.0 mile northwest of Downtown Covington.
The subject property is currently zoned CM (Corridor Mixed Use) and NR-1 (Neighborhood Residential) in the City of Covington.
Seller seeks a purchaser that will conduct a rezoning effort to the CM zoning classification for a mix of Multifamily and Townhomes. The purchaser is not required to purchase the Townhome component, as the seller will consider selling this to a different buyer at a later time, but the entire site must be zoned at once.
There is a new application zoning moratorium in place that will prohibit new zoning applications from being made until after February 20, 2022, but the Seller is ready to allow a contract to be put on the property to allow due diligence, design and pre application meetings with the city & community.
The City of Covington has proposed a Park and Trail overlay with plans to increase density, connectivity, and walkability that the City intends to vote on in the fall of 2021.
$25,000.00 per Multifamily Unit
$20,000 per Townhome Unit
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