A $66 MILLION RESIDENTIAL DEVELOPMENT UNDER CONSTRUCTION IN SOUTHEAST CHEROKEE COUNTY MEANS BUSINESS FOR FORSYTH COUNTY. By Nicole Green Staff Writer The roads are cleared and the fairways laid for The Georgia Tech Club, a golf community less than five miles west of the Forsyth County line. The 610-acre development is located primarily in Cherokee County, just north of the Birmingham community, with 100 acres in north Fulton County. Melrose Co. of Hilton Head Island, S.C., contracted with the Georgia Institute of Technology to create the upscale neighborhood and golf course. The 18-hole championship course and 30-acre driving range is being designed by Rees Jones, renowned course architect and son of Robert Trent Jones. The Georgia Tech Club leads a growing trend among universities to utilize recreational and residential developments as a revenue source. "There are several university clubs around the nation, but very few that have high end, luxury communities as a component," said Georgia Tech Club public relations director, John Companiotte. Phase I of The Heritage subdivision in Georgia Tech Club includes 87 one-acre lots with homes starting at $750,000. The Heritage has grossed $10.1 million in sales so far, according to Companiotte. The homes are scheduled for completion by the first quarter of 2005. Phase II construction could begin as early as this spring, dependent upon market response. In addition to the approximately 200 homes in The Heritage, 25 Founder Cottages were designed by Georgia Tech alumnus Niles Bolton. Founder Cottages each have four bedroom/bathroom suites with a common living area. Owners have the option to rent the suites to vacationers. Central to the community is a 30,000-square-foot clubhouse with locker rooms, golf pro shop and a restaurant. The complex also features the Lifestyle Center, Tennis and Swim Center and Golf Learning Center. The golf center will be home to the Georgia Tech men's golf team. Former U.S. Open and Wimbledon champion Stan Smith designed the tennis facility. Club membership is open to non-residents starting at $2,000 for a social membership. The top membership tier costs $60,000. With Georgia Tech Club members comes their disposable income, and this offers an opportunity for economic development to neighboring Forsyth County. "[Members] will be visitors to our county in a variety of ways. By doing business here, eating here, shopping here and visiting Lake Lanier or purchasing boats, etcetera, etcetera, they will spend dollars which generate sales tax for our city and county as well as the school system," said Joni Owens, President and CEO of the Cumming-Forsyth County Chamber of Commerce. The Club hopes to attract successful entrepreneurs and executives as homeowners. While living in Cherokee or Fulton counties, these residents will be part of the Forsyth work force pool. They also could become a local business owner. "...We find that new businesses are created by some of those homeowners, and Forsyth County is an ideal location to locate and grow a new or relocated business," Owens said. The Georgia Tech Club is expected to generate $1 million in annual revenue for Georgia Tech. Five percent of membership sales and 10 percent of the club's gross operating revenue will be donated to the university, according to The Georgia Tech Club. During the economic downturn of recent years, universities have struggled due to decreased alumni donations among other budget cuts from the government. University clubs tap into a lost source of funding. "Universities have seen a reduced income from donors...People are looking for new revenue sources and this one is substantial," Companiotte said.