As of Friday, May 9, 2014
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COVINGTON — One Australian-based developer has purchased more than 300 lots in Newton County due to what the company has described as the historic charm, yet progressive initiative taking place in Covington.
Drapac Group USA Property Director Jeremy Quinn said in the last 12 months, Drapac has invested in four communities – Dorchester Place, Bailey Glen, Magnolia Park and Crescent Place – which have around 362 finished lots and 78 lots to still be developed.
“What stood out most about buying and developing land in Newton County was the great community atmosphere. There’s historical value that’s maintained its charm while continuing to grow and thrive with new industries moving in,” Quinn said. “Baxter is a great example of the county embracing the new businesses while maintaining its historic feature.”
Quinn said Drapac doesn’t quickly buy land to then give to builders for a cookie-cutter subdivision. Instead, he said, the developer invests in the community.
“We’re all about community spirit and creating common areas that are used by residents, besides the typical two tennis courts and pool setting,” Quinn said. “We try to deliver what they want whether that is with walking trails or gardens.”
The next step for developing these subdivision is to find builders who share the same vision Drapac has for the communities.
“Be aware that we’re very much in acquisition mode. We see the U.S. market, especially Georgia, as a window for opportunities that fit our model,” Drapac Property Director Max Cookes said. “We plan to continue acquiring land before we start assessing how we can add value. Then we’ll start delivering our vision into the subdivisions.”