Development of the 558-acre Deerfield Park began in 1996 with a Hines team led by Bob Voyles. Located on the west side of GA 400 on Windward Parkway, the property was in an area that had previously been
outside the prime growth area of interests. Bob and his team worked through extensive entitlement and zoning in North Fulton, after structuring a 7 year takedown structure with the William Orkin family, and master planned the project. Over the next seven years, Deerfield was transformed from farmland into a full-scale mixed-use project. The project attracted corporate clients such as Alltel and Verizon Wireless to a richly amenitized and carefully controlled commercial community. The project today has over 2 million square feet of office, 1.5 million square feet of retail and 2,500 residential units of varying product types, including townhomes, condominiums and luxury apartments. The project helped set in motion the transformation of the west side of GA 400 at Windward Parkway from a rural setting to a thriving commercial enclave which now serves as the primary commercial tax base for the City of Milton.
- Negotiated Below Market, staged purchase option which minimized tax implications.
- Phased Takedown provided control to implement master plan as desired.
- Completed Challenging Entitlement process maximizing land value.
- Executed Lot Sales Plan at both higher prices and velocity than proforma.
- Achieved Superior Return of capital timeframe and overall profit for investors – a 31% IRR, and a 3 to 1 equity multiple over seven years.