Mixed-Use Zoned Land Tract In Conyers | 3.401 Acres

Highlights

• Proposed development can accommodate up to 306 independent living, assisted living, and memory care units
• 3.401 acres of land zoned mixed-use
• Over 2,100 feet of footage on West Iris Drive and access from Flat Shoals Road & I-20
• All utilities on site including sanitation sewer
• Proposed unit mix includes assisted living and memory care, senior cottages and office/retail

Description

The proposed site is located on the south side of I-20 at the intersection of Flat Shoals Road and West Iris
Drive in Conyers, Georgia with (3.401) acres of land zoned MXD/CID/MUR. The property has direct exposure to I-20 with a traffic count of over 75,500 cars per day. The mixed-use zoning allows for all of the proposed senior housing types from senior apartments and cottages to assisted living and memory care.

Located in Conyers, Georgia, the site is just 28 miles from Downtown Atlanta, 50 miles from Lake Oconee,
and 121 miles from Augusta. Convenient to many retail destinations, the property is located less than 3 miles
from the main retail area of Conyers and 9 miles from Stonecrest Mall in Lithonia. The site is also just 5 miles
from Rockdale Medical Center and 10 miles from Piedmont Newton Hospital

According to Integra Realty Resources (IRR), one of the largest, most well-respected, independent appraisal
companies in North America, “There is no denying that the demographic trends impacting the senior housing
sector are positive. As of the 2010 Census, there were 40.3 million elderly Americans (those aged 65 and
older), making up nearly 13% of the total population. The elderly population is expected to almost double by
the year 2030 to 72 million, to make up 19% of the total population.

Assisted living is considered needs based and many consumers find the ability to pay for assisted living even in
hard times. Looking forward, with the economy and housing market recovering, demand for assisted living will
increase across the nation.

The Independent Living market segment has a current unmet demand of 300 beds and in five years, the
unmet demand is forecasted at 287 beds. Demand for independent living is forecasted to grow at an average
annual rate of 3% over the next ten years. There is sufficient unmet demand to support the planned assisted
living and memory care component.”

Located along Interstate 20 and Flat Shoals Road less than an hour outside Downtown Atlanta.

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