Business & Tech
Land for Cumming Upscale Neighborhood Purchased from NASCAR Legend
Bill Elliott sold 143 acres of land to a developer for $4.2 million on Friday. The land will be used for 300 single family homes.
Around 300 luxury single-family homes are slated to be built on a 143 acre plot of land in Cumming that was owned by a NASCAR racing legend up until Friday, the Atlanta Journal-Constitution reports.
According to the AJC, SunBelt Atlanta/Cummings I, LLC purchased the property off of State Route 369 from Bill Elliot for a price of $4.2 million. The developers plan to build homes that will range in price from $350,000 to $500,000.
SunBelt plans to begin construction next month, and is working with local home building companies to complete the neighborhood, the AJC reports.
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The overall cost of the project is estimated at $120 million.
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