The much heralded LakePoint Sporting Community and Town Center, which will be located in Emerson, GA, is now projected to open in 2014. However, the local community is already seeing a positive economic impact in the area, especially as it relates to the housing market. In the fourth quarter of 2012, Emerson saw home prices increase 82.8 percent from third quarter and 73.5 percent from 2011 to a median sales price of $113,310. During the same time, nearby Cartersville saw prices rise 11.8 percent from 2011 to a media sales price of $85,000. Both cities are located in Bartow County, where the real estate market was hit hard by the housing depression. However, thanks to LakePoint, home prices are expected to rise steadily. The development has been nicknamed Georgia’s own version of the ESPN Wide World of Sports.
The latest news for LakePoint is that Bass Pro Shops, named by Advertising Age as one of the Top 10 Hottest Brands in America, will open a 100,000 square foot store that will be the leading anchor for the development. The new store will generate around 200 jobs, and around 300 acres adjacent to the new store will be developed as a nature park. Both will pay tribute to Georgia’s great outdoor heritage.
Another big name, Coca-Cola, will also be adding its footprint to the development. The Atlanta based company will open Coke’s Powerade Sports Safety Hydration Lab, which will work to prevent concussions and dehydration in athletes.
Finally, local Georgian and accomplished visionary Eric de Groot has committed to purchasing six acres that will be used for what is being called The Mini American Park. This educational theme park will feature miniature versions of America’s most well-known locations, a family entertainment center, a mini garden and a mini sports hotel.
Previous posts on Atlanta Real Estate Forum have reported on the five separate villages that will be encompassed within the new development, which broke ground at the end of 2012 and encompasses a portion of Lake Allatoona. The site will be home to facilities and fields for more than 17 sports, retailers, entertainment, research facilities, outdoor adventures and more. Several Major League Baseball teams also have plans to move their spring training camps from the Disney World sports complex in Florida.
With the list of national and international companies who are adding their name to the development growing what seems like every day, we expect continued job growth, which will in turn fuel the housing market, to bring a much-needed economic boost to Bartow County as a whole.