In 2014, KCP acquired five acres of unentitled land across from a municipal city hall in a close-in municipality of metro Atlanta – Chamblee. We predicted that Chamblee, a historically sleepy town that was not developer-friendly, was now in the path of growth for desirable development and re-development.
We believed that this property would make an excellent mixed-use development site, if handled appropriately on a local level, even though many in the real estate community thought this location was still on the fringe. Working with a team of consultants, we were able to develop a vision for the site and subsequently obtained a first round of entitlements that removed development restrictions.
After our acquisition, other area developments began, and Whole Foods announced it would be opening nearby. Our site went from being pioneering to being highly desirable. We sold this property in 2016 for a significant profit.
KCP prides itself on having the vision to recognize the value of land before others do, especially in the local Atlanta community. We then work to create a process to unleash the value of that potential.