Signs of Life at Seven Development

Downtown Norcross residents have become used to some quiet streets and empty spaces at the Seven development, since the development was lost to the bank. 

But the addition of ten EarthCraft-certified “stacked flats” recently has drawn new energy. Two of the ten flats, which are priced in the high 100s, are currently under contract, according to the brokers.

Each of the two-bedroom, two-and-a-half bath, one-floor units come with a two-car garage. The listed price is either $189,999 or $185,900, depending on which side the flat faces.

A new website has been erected that touts the amenities of the flats, like garden tubs, hardwood floors and access to Norcross parks, shopping and restaurants. The site also touts the "maintenance-free" lifestyle that comes along with flats: no mowing the yard, no cleaning the pool. It seems to be the kind of message that attracts a coveted demographic for Norcross: the creative class. 

“They aren’t flying out the door, but there’s certainly a lot of interest,” said Jason Wood, the Keller Williams broker who is handling sales of the properties, along with Frank Rivera of NAI Brannen Goddard. 

Wood said he has seen a broad range of interested potential buyers, from young couples just starting out to empty nesters looking to downsize.

An investment property owner bought the ten units in Seven at the end of last year, Wood said. Hedgewood Properties had lost the entire development to the bank and the FDIC had taken control of the land, according to the broker.

Wood said he has not heard about any other plans for the empty land that sits around the stacked flats, perhaps the owners—like many other developers—are waiting out the market, he said.