RESMARK COMPANIES, EASTWOOD HOMES PLAN 220-HOME SINGLE- FAMILY RENTAL COMMUNITY IN CARTERSVILLE
The Resmark Companies, a leading national residential real estate investment manager, and Eastwood Homes, one of the top homebuilders in the Southeast, have announced plans for a 220-home single-family rental community in Cartersville, GA, a fast growing city northwest of Atlanta. The 30-acre site is bounded by Smiley Ingram Road SE, Center Road and Interstate 75.
“Cartersville continues to expand and grow in popularity as families, young professionals and seniors discover its affordability, access, and exceptional quality of life,” according to Joe Polite, Vice President, Land of Eastwood Homes. He notes that Cartersville will mark Eastwood’s first single-family rental project in its corporate history. The company has been developing single-family for sale communities in the Atlanta Metro Area for five years and has six active for-sale communities and a robust pipeline in pre-development.
The new community will be comprised of two-story attached townhomes. Each home will incorporate three bedrooms and 2.5 baths as well as an individual backyard and garage. The homes will employ Eastwood’s “Built with Care” approach and include stainless steel appliances, granite countertops, full size washer/dryer and smart home features.
“We believe our community will attract a wide range of renters who see value in a single-family home and accompanying lifestyle that is priced at a meaningful discount to the homeownership alternative,” said Stephen O’Neil, Resmark Senior Vice President, Investments. “Further, these rental homes will be a more attractive option to traditional multifamily apartments.”
The new community will have excellent access to Georgia State Route 20 as well as Interstate 75, both major transportation and commuting routes to Atlanta or Marietta.
Residents will be close to many shopping, dining and entertainment attractions at Main Street Market Place and Historic Downtown Cartersville with its unique sense of place. The city is host to four museums including Booth Western Art Museum, Bartow History Museum, Tellus Science Museum and Savoy Automobile Museum. It also is surrounded by significant outdoor recreational activities in the northwest Georgia mountains including Red Top Mountain State Park and Lake Allatoona.
Hyundai and SK Innovation Company are investing $5 billion in a new electric vehicle battery manufacturing facility near Cartersville that will employ 3,500 starting in 2025, bringing more in-migration to the area, Polite points out.
Site construction at the Resmark-Eastwood project is expected to start this spring with rental homes available starting in fall 2024.
This is the first joint venture development between Resmark and Eastwood although the companies have worked together with land bank investments. “We admire Eastwood’s integrity and core values and look forward to expanding our relationship,” said O’Neil.