Local Developer Files for Rezoning, Proposes CCRC on 53 Acres in Marietta
Isakson Living, a local developer with strong ties to Cobb County, Georgia filed for rezoning and announced plans to build a Continuing Care Retirement Community on a 53.7 acre parcel in East Cobb County, inspired by Isakson Living’s successful Park Springs CCRC in Stone Mountain. The site for this potential new residential community for people aged 62 and older is located at 3540 Roswell Road in Marietta, Georgia adjacent to East Cobb Park.
“This type of retirement living is not currently available in Cobb County,” says Kevin Isakson, Partner of Isakson Living, who has lived his entire life in East Cobb. “Our goal is to build a ‘lifelong community’ that will enable current residents to stay in the area as they grow older. It will also be an attractive option for those who wish to relocate here to be closer to children and grandchildren.”
Isakson Living’s proposed CCRC is the first such community to apply for a rezoning under the Continuing Care Retirement Community District, a code Isakson Living helped develop along with other representatives from the development community, local government leaders and Cobb County residents.
“This community, with its careful design and outstanding amenities, will be a major asset to East Cobb. We propose to build 837 independent living units and 150 healthcare units, enhanced by dining, activities, entertainment, fitness and wellness. There will also be superior on-site health services including assisted living, memory care and skilled nursing,” notes Isakson.
“When I decided to sell my property, I wanted to be sure it would be used to benefit the people of East Cobb,” says Wylene Tritt, owner of the site, who has turned down many offers to develop her property during the 60 years she has lived there. “I have known the Isakson’s for a number of years. After I visited their Park Springs community in Stone Mountain, I was convinced this was the right thing to do. I am confident that they will build exactly what we need here: a carefully-planned, well-run community that is a real draw for seniors in our part of the metro Atlanta area.”
“If everything goes as planned, we could start construction as early as next summer with the first phase complete in Spring 2016,” according to Isakson.
Current and future need.
Initial market studies indicate a strong existing senior population and significant demand for new senior housing options in East Cobb:
- U.S. Census Bureau reports (via Nielsen’s Senior Life Report) indicate there are currently more than 50,000 residents over the age of 65 within a defined market area including Marietta and Roswell. This population is expected to grow by more than 30% during the next 5 years to approximately 65,000.
- Age/Income qualified U.S. Census Bureau reports (via Nielsen’s Senior Life Report) indicate a strong presence of the project’s target population, currently 12,651 households (age 65+ with an annual household income of $50,000+). This qualified population is projected to grow significantly by 2017 to 16,750 (32%) households.
- Initial estimates indicate that at present there is a demand for 450+ homes; in 2017 there will be a demand for 850+ homes. Demand estimates are based on projections using Census population figures, collected competitor data (NIC Map) and standard industry assumptions.
Respecting the land.
Isakson Living has deep roots in Cobb County. Partners Andy and Kevin Isakson both live in the area and are committed to respect the proposed community’s site and its neighbors. Two major objectives are to 1) preserve as much open space as possible; green space is one of the top amenities seniors desire, and 2) create a very walkable community by concentrating the development in the center of the property, allowing Members easy access to the many on-site amenities. This will help create large buffers between the proposed community, the adjoining property owners and East Cobb Park.
By locating Member’s parking spaces under the residential buildings, Isakson Living will be able to minimize the amount of impervious surface and maintain more than 50% of the site as open space and some 20 acres will be undisturbed green space. The company has conducted a full Tree Survey for this potential site, and based on this survey, 40% of existing trees will remain.
Part of the East Cobb community.
Isakson Living has begun to meet with community leaders and area residents to introduce the concept, share initial plans and solicit input. “We intend to meet with residents and community leaders throughout the rezoning process,” says Isakson. “We want their feedback and we want to keep the community informed of our plans.” The filing will likely be heard by the Planning Commission and Board of Commissioners in the fall. In addition to meetings with community leaders and area residents, Isakson Living has designed a web site IsaksonLiving-EastCobb.com to provide the latest updates.
Isakson Living is a local company with offices in Atlanta and Stone Mountain. Partners Andy and Kevin Isakson successfully developed Park Springs in Stone Mountain, Georgia. Andy Isakson resides with his wife in Roswell, GA where they have raised their family. Kevin Isakson grew up in East Cobb where he currently resides with his wife and three children.