This screenshot shows home designs for Next Chapter Neighborhoods’ proposed subdivision near Greenwood’s far east side.
Provided by the city of Greenwood
A Georgia developer is requesting to rezone and annex farmland into Greenwood to build a single-family rental home neighborhood.
Next Chapter Neighborhoods is wants to build this on about 80.9 acres at the southwest corner of East County Line Road and North Five Points Road. They are asking for a majority of the land to be zoned as residential attached for single-family homes, and for the northeast section of about 10 acres to be zoned as commercial small for future commercial developments. The land is currently owned by H&I Amick Farm, LLC, according to city documents.
The annexation was introduced at Wednesday’s city council meeting, and a recommendation from the city’s Advisory Plan Commission hasn’t yet been given. The commission will hold a public hearing on the annexation Monday, with the city council to have a first reading and public hearing on March 4. Final action would likely take place on March 18.
Next Chapter Neighborhoods specializes in building single-family neighborhoods for rent. They have built several developments with this concept, including Dupont Meadows in Fort Wayne, said Andrew Malzer, vice president of development for the company.
“There’s a need for it in the city of Greenwood, as well as the Metro Indy area; as well as the demand for it. The market has proven that out,” Malzer said.
The 80-acre parcel near Greenwood is one of the few parcels of land in this area that hasn’t been annexed into the city. As Malzer put it, the land is a “hole in the donut.”
The company plans to build a neighborhood of smaller individual homes, or cottages, with one to four bedrooms. Up to 296 homes are planned to be built in two phases, with phase one consisting of 233 units, he said.
Homes will have an average square footage of 1,300 feet. A majority will be one or two bedrooms, with an average rent of $1,900, Malzer said.
The developer estimates 350 people will live in the development, including 45 children. They’ve been in touch with Clark-Pleasant Community Schools about their plans, and the district sent a letter saying they had no concerns and would be able to accommodate the increase in students, Malzer said.
Residents of the neighborhood would likely be those who rent by choice, people who feel it is more advantageous for them to rent, or “prospective renters,” people who may think renting is what they need to do at the moment. The median household income for Next Chapter Neighborhood developments is $106,801, which is more than $31,000 higher than Greenwood’s median household income, he said.
Their neighborhoods are designed to fill a gap between apartments for rent and landlords who rent out a single-family home, he said.
“We bring you all the benefits of a high-end apartment complex with the amenities and the convenience, but you also get your own four walls,” Malzer said.
Next Chapter Neighborhoods are also designed to bring a sense of community. They hold numerous events like porch of the month contests, movie nights, food and ice cream truck socials and more, according to Malzer’s presentation.
“Our tagline here is building great neighborhoods for great neighbors,” he said. “Our founder drills into us almost every day, we are not just building shelter here. We’re building a place where people will live and they will spend their lives.”
The neighborhood will essentially function as a “luxury apartment complex,” Malzer said. Next Chapter Neighborhoods handles both the inside and outside maintenance for their developments, he said.
There will be several “high-end” amenities in the neighborhood, including a clubhouse, community garden, playgrounds, pickleball courts and two dog parks. Two parks will be built in the neighborhood: a 4.1-acre park in the central area and a smaller, 3.3-acre park near the southern edge of the property, Malzer said.
About 2.1 miles of walking trails are planned to be constructed around the development, along with a 10-foot wide hiking trail along County Line Road, he said.
Three entrances are proposed for the neighborhood: on County Line Road, on Five Points Road and through the under-construction Arlington Farms Apartments. Two stub streets will also be built to connect to future developments, plans show.
The developer is also doing a traffic study and will need to widen areas of County Line and Five Points roads as part of construction. They also will be required to dedicate right-of-way for future improvements on Five Points Road, Malzer said.
As for parking, each home will have its own garage. They will also construct 386 overflow parking spaces for residents and guests, Malzer said.
Next Chapter Neighborhoods plans a capital investment of $65 million for the project, which will also add more than $700,000 of additional tax revenue each year to the city, he said.
The developer has also agreed to proposed commitments to prohibit vinyl siding, install a Flock license plate reader camera and to offer a home at a 50% discount for a Greenwood Police Officer, Malzer said.
