Sometimes you have to wonder if the right decision can be made. Last week a Cobb County Zoning Committee voted 4-1 against a Zoning Change request for a proposed Senior Living Facility. The project was slated to encompass 9.5 acres of land on Lower Roswell Road before it was voted down due mainly to opposition by neighbors and business organizations.
A recent AJC article spells out where most of the opposition originated and while I can understand people’s resistance to change; I am also concerned that a great opportunity may have passed.
Simply stated, there are few 9.5 acre tracts available in East Cobb and price for land in East Cobb is expensive. So, as an investor, what types of projects could expensive land be developed into?
Retail – Does East Cobb need more of this? Traffic and more stop lights, yuck.
Park – Yes we do need this. Is government willing to pay top dollar for land?
Residential – Yes, we need affordable housing! No more McMansions, please. To many vacancies, already. More to come.
Office – Yeah, right.
So what is right about senior living: (from a neighbors perspective)
Senior Residents like to drive during non-rush hour. This means no additional congestion and yet taxpayers save the cost of additional roads and highways.
Senior Residents Eat early! Restaurantuers appreciate the Early Bird patron’s additional revenue just before the start of the normal Dining Rush Hour.
Some of our best neighbors are Seniors. They look after your stuff as take great care of theirs.
Best of all: Senior Living properties are not competition for your Single Family Residential (SFR) resale. In short another home that is newer than your existing residence is, well, not your friend!
I guess there are few times in life that we can pick a new neighbor. In this case, I hope we have not traded a great neighbor for another 24 hour gym, a call center, or 25 additional 6 bedroom, 5.5 baths homes on 1/3 acre lots.
