The Georgia Club in Athens is Now Debt Free
As state income tax at retirement phases out in Georgia, best college towns like Athens are attracting Baby Boomers interested in low cost of living cities with rich culture. Athens is home to the University of Georgia and a gated Georgia golf community which is now debt free. We visited The Georgia Club in the spring of 2011. We were impressed with the Americana architecture and quality of the completed golf community amenities. Back then, there was a rumor of the golf club turning private which at present, has not been announced.
This week Alvarez & Marsal Capital Real Estate LLC, KRE Capital and their capital partners acquired all the assets of The Georgia Club infusing capital for improvements and removing the club’s debt. Developed by CEO Jim Vanden Berg of Barber Creek Land Company, this gated Georgia golf community has approximately 223 homes built to date of the 1,100 planned. CEO Jim Vanden Berg has a stellar reputation in Georgia and with his mission accomplished, has stepped aside allowing the ‘big money’ to buy The Georgia Club to continue with its Athens GA real estate development. We have not pulled the sales data for 2010 and 2011 as of yet, so we’re unsure if The Georgia Club being on the market was necessary.
This well designed gated Georgia golf community in this best college town has curb appeal to the tee. After you pass through the gated entrance, white picket fences greet your eyes lining the roads and sidewalks, guiding you off to the various neighborhoods of The Georgia Club. Common area park-like squares shaded by tall tree canopies are attractive natural amenities and community outdoor lawns in many of the neighborhoods. Dan Griffiths designed The Georgia Club’s golf course in early 2000 and at the time, the golf course was recognized in the industry as a best new golf course in Georgia. The Georgia Club’s community amenities include a 42,000 square foot clubhouse, tennis courts, state of the art fitness center, swim complex, outdoor entertainment lawns and a children’s playground. The social clubs and community events exude southern charm found in the south, providing plenty of opportunities to meet new friends and share common interests. The Georgia Club is a popular retirement neighborhood.
The Georgia Club’s close proximately to the University of Georgia makes it one of the best college towns in Georgia for professors, part-time teachers, lifelong learners or residents volunteering at the university. Affordable homes start in the high $200k’s with estate homes exceeding $1 million at The Georgia Club. In 2016, Georgia is poised to become the lowest cost of living state in the Southeast for retirement. Retirement income is planned to be completely state tax free by 2016. Georgia residents have another tax benefit called Property Assessment Freeze. This freezes the assessed value of your home at the time of permanent residence limiting your Athens GA real estate taxes.
If you would like to know our thoughts after visiting this gated Georgia golf community comparing it to Reynolds Plantation on Lake Oconee, write us at info@communityfinder.com or call us toll free at 866.384.1799. It is our pleasure to help.
