Macallan Group/McNeal Development and BCDC have closed on financing for their inaugural joint-venture project — a +/-19-acre townhome community located on Peeples Valley Road nestled in the heart of Cartersville, Georgia.
Located on Peeples Valley Road, just minutes from downtown Cartersville and near Piedmont Cartersville Hospital and Cartersville Country Club, the planned community will redefine contemporary living in the region. With 97 two-story townhomes boasting driveway parking, private garages and outdoor space, the project caters to the evolving needs of families and individuals. The development’s strategic location on underscores Cartersville’s robust economic growth, fueled by its strategic proximity to Atlanta via the I-75 corridor and its proactive approach to job creation.
“The Macallan and McNeal teams are very excited to be partnering with BCDC on our first project together. BCDC has an outstanding track record and a reputation for excellence that will serve the project and partnership well,” said Jay Rhoden, Managing Partner of Macallan.
“Cartersville is seeing an influx of manufacturing jobs that we believe will continue to drive housing demand in the market,” shared William Norris, Principal of McNeal Development. “We believe people are attracted to the lifestyle provided by a build-to-rent community where residents have all the luxuries of a single-family home but with the flexibility that comes with a rental community.”
“BCDC is thrilled to start this project with Macallan Group and McNeal Development, pooling our strengths to bring an extraordinary residential experience to the city of Cartersville,” said Litt Glover, CEO, BCDC. “We take pride in partnering with top-tier developers, and Macallan Group and McNeal Development exemplify integrity and professionalism through a strong and experienced leadership team.”
First Carolina Bank is the lender on the project. Middleburg Communities is the preferred equity partner. Patterson Real Estate Advisory Group assisted with the capitalization of the project. Crawford Creek Communities as the general contractor and RangeWater Real Estate is responsible for leasing and management.
