The apartments at westside provision district are grand in a great sense. When we coin the term grand, we don’t aim at just presenting the size but includes everything else as well. If looking for an apartment, then you can rely on the grand apartments in this location.
EAST ATLANTA, GA — Looking for a new home nearby, but tired of looking through the same old real-estate listings again and again? Not to fear! To help simplify your search, we’ve compiled an up-to-date batch of new listings nearby.
Here’s a list of the five newest homes to hit the housing market in the East Atlanta area — including one in the Atlanta area with 5 beds and 6 baths for $569,900, and another in the Atlanta area with 3 beds and 1 bath for $319,000.
Want more pics and details? Just click on any address to learn more. Happy house hunting!
Size: 960 sq. ft., 3 beds, and 1 bath
Size: 1,185 sq. ft, 5 beds, and 6 baths
Size: 1,185 sq. ft., 5 beds, and 6 baths
Size: 4 beds, and 4 baths
Size: 825 sq. ft., 2 beds, and 1 bath
Still want to see more options? Keep scrolling for more listings. Or check out Patch’s East Atlanta area real-estate section for a full list of nearby homes.
Photos courtesy of Realtor.com
In 2011, Fayette County resident Jenelle Harris wanted to buy a home closer to her job as an Atlanta Public Schools teacher, but she didn’t make enough money to buy in the quickly gentrifying east side of Atlanta. Then, she heard about a new program through the Atlanta Land Trust that would let her purchase a unit in the Lofts at Reynoldstown Crossing—right where the fledgling BeltLine would eventually hit Memorial Drive—that was perfect: affordable, walkable, less of a commute. And it had another benefit that interested her: Years later, after the BeltLine’s arrival to the neighborhood would make prices skyrocket like never seen before, the home would stay affordable, not only for 10 years or 20 years, but forever.
The Lofts at Reynoldstown Crossing (Credit: hud.org)
For years, Atlanta has been losing more affordable units than it can produce. A growing market continues to push property values up, pricing out renters and homebuyers. Between 2010 and 2014, the city lost more than 5,000 units, or 17%, rented at $750 or below. Recently, Mayor Keisha Lance Bottoms announced a plan to create or preserve 20,000 affordable units in eight years; more than half of that number aims to simply make up for ones Atlanta is losing.
Part of the problem is the way affordable housing is usually funded: Grants and programs—like the federal low-income housing tax credit (LIHTC) or project-based rental assistance (PBRA)—that most often fund affordable developments come with contracts that expire. In Fulton alone, the subsidies for more than 11,000 units are set to expire in the next 10 years, according to an Atlanta Regional Commission analysis. While owners could re-up those contracts, it’s less likely that they’ll do so in a hot housing market like Atlanta.
This problem is what makes community land trusts a unique solution to affordable housing needs. With the Atlanta Land Trust (ALT), the city’s only community land trust dedicated to housing, affordability is permanent; there’s no subsidy that expires. “If we’re going to make a strategic investment in affordable housing, we need to make sure that it’s done in a way that it will be sustainable, so that in 20 years, we’re not going to be faced with the same problem that we are today,” says ALT executive director Amanda Rhein. (Another Atlanta community land trust, the Lake Claire Land Trust—the place with the emu and drum circles—was founded in 1983 and preserves greenspace in the east side neighborhood.)
The way it works: A nonprofit like the ALT owns the land that the home stands on, but an ALT resident like Harris owns the home. The ALT structures the value appreciation of the home to keep the price down—meaning that, when Harris eventually decides to sell, the loft won’t be the half-million-dollar price of other nearby lofts; she’ll get some increase in its value, but ALT will manage the resale process so that the home is affordable to another homebuyer, someone who might not otherwise be able to live there. The ALT will also provide resources to Harris if she has trouble paying a mortgage or needs help with home repair; community land trusts nationally have low rates of foreclosures. “It allows you to have the stability of homeownership—both financial and actual physical stability,” Rhein says. “You’re not going to have to move. You’re not going to get evicted. Your mortgage payment is predictable.”
Rhein says the process is structured so that ALT residents “can earn some equity on your home—not as much as you would if you own the land, but you’re able to earn some equity which can then be used as a down payment on a market-rate home.” In hard numbers: Another ALT resident bought their home in 2012 for $150,000, Rhein says; the appraised value of their unit today is $400,000. The resident, who’s reselling, will get to participate in 25 percent of the appreciation—$62,500—and ALT will aim to keep the resale value below $150,000. The resale “worked exactly as we intended it to,” Rhein says. “Because no low-income person can afford to live in that building today at $400,000.”
Rhein joined the Atlanta Land Trust last August, after running MARTA’s transit-oriented development arm and spending a decade at Invest Atlanta, the city’s economic development entity. “I always did feel that a lot of the programs that I’ve worked on, we were making these big investments, but we weren’t putting the controls in place to ensure that people were able to stay there long term,” she says. “The unintended consequence was that there was sometimes displacement. People just couldn’t afford to live there anymore.”
ALT is focusing on creating homeownership opportunities along the BeltLine, particularly in the south and west sides. But can the land trust scale the model enough to truly make a difference?
Reenergized after hiring Rhein, ALT is just ramping up: The only homes currently online are three units at the Lofts at Reynoldstown, created through a partnership with the Atlanta BeltLine, but dozens of other homes are in the pipeline. In Oakland City, ALT will oversee 23 townhomes and condos on Tucker Avenue through a partnership with Enterprise Community Partners. With the Atlanta Neighborhood Development Partnership, the land trust will gain eight new or renovated homes in Pittsburgh to its roster. Last month, the Georgia Trust for Historic Preservation announced it would renovate two homes in Washington Park and Mozley Park; ALT will own the land for both. New nonprofit Swope Dreams will partner with ALT for another home in Pittsburgh. “This neighborhood is poised for a lot of change,” says Swope Dreams president Zack Mellette. They partnered with ALT “to create pathways to homeownership for the people who might get priced out in that change.”
The Atlanta Land Trust will oversee a historic home that Georgia Trust is renovating in Washington Park. (Photo by Maria Saporta)
Those partnerships are essential for a small nonprofit like ALT, Rhein says. “Because the community land trust mode—and certainly the Atlanta Land Trust—is still unfamiliar in Atlanta, it’s important that we had established these early wins to kind of prove the model and demonstrate that, as an organization, we have the capacity to actually do this work.”
Over the next 10 years, Rhein wants ALT to oversee 1,000 units. But the challenges of acquiring property along the BeltLine—where values skyrocket in a matter of weeks and private developers come in with all-cash offers—require significant funds to act fast. She’s focused on fundraising and creating other streams of income. The land trust homes come with small stewardship fees, and a portion of the home value at closing goes to help pay administrative costs, but Rhein is looking toward other methods—potential developer fees, rental income—to make the model sustainable.
For the south and west neighborhoods along the Atlanta BeltLine, where the 2008 recession—and predatory loans—disproportionately impacted black residents, education about the land trust model is important, but so is building trust. In the U.S., the community land trust arose out of the Civil Rights movement; in 1970, a group of activists purchased tracts of land in Albany, Georgia, to create black-owned agricultural cooperatives and economic power in the South. At one time, the land trust, New Communities Inc., was the largest amount of land owned by black people in the country.
For many of ALT’s new projects, Rhein says it’s paramount to incorporate what the surrounding community wants to see (in Oakland City, ALT originally thought to build single-family homes but switched to townhomes and condos after hearing that residents wanted more density) and walk potential homebuyers through the entire process. Creating trust is also important when it comes to the tricky resale process, where ALT has to ensure that “when somebody sells their home, there is some equity that they can realize, but that there’s not so much equity that we’re having to come back in and reinvest in it so that it’s affordable for the next buyer.”
Rhein emphasizes that ALT isn’t the perfect solution for everyone in need of affordable housing. For example, the model doesn’t necessarily work financially for the most vulnerable, who might make less than 50 percent of the area median income (less than $37,000 for a family of four). “We’re a great solution for people who are interested in homeownership, who need to transition from being a renter to being a homeowner, because we really see ourselves as kind of a stepping stone between the two,” she says, noting that 70 percent of community land trust homeowners then move on to buy a market-rate home. “We’re certainly not going to solve the affordable housing problem on our own.”
Harris knows that she won’t be able to capitalize on the full value of her Reynoldstown home when it comes time to sell, but she still feels like the trade-off is worth it, since she wouldn’t have been able to afford a home in the area otherwise. “I feel like I’m contributing to leveling the playing field a little bit.”
Harris still wonders whether ALT can scale enough to really impact the Atlanta community, but she’s optimistic. For her, the home she and her father live in has already given her something she didn’t think was possible anymore: Her father grew up a few minutes away from where her home sits. “Now, people can have the option to live in the communities they grew up in.”
The silhouettes of pedestrians stand in front of Victorian homes and the downtown skyline in San Francisco, where the median home price is more than twice that of Atlanta. (David Paul Morris/Bloomberg)
Here’s how Atlanta got on a footloose Californians’ radar: low housing prices, lots of hiring and warm weather most of the year.
Metro Atlanta is the eighth most-sought destination for those in the Golden State thinking of leaving and looking into the home markets across the country for alternatives.
“The combination of strong job growth in Atlanta and a more favorable housing market for buyers and renters create a gravitation pull towards Atlanta,” said Cheryl Young, senior economist for Trulia, the online real estate company that collected the data. Atlanta “is simply an appealing place to live for those leaving expensive California markets.”
Among the top ten destinations for Californians, as measured by Trulia, there’s a bias for proximity: Five are in the West, two of them in the Southwest.
The only cold weather cites under scrutiny are New York and Chicago.
From the Atlanta perspective, those places are expensive. Atlanta’s median home price – $249,000 – is less than Chicago’s and looks very cheap indeed compared to the $439,990 median in metro New York.
But from out on the coast, the northeast may look like a steal: San Francisco’s median home listing is $750,000 and the median in Los Angeles is $650,000.
But it’s when they gaze toward Atlanta that they see the bargain basement of big cities, according to Trulia.
Atlanta’s median home price is 62 percent cheaper than Los Angles, 64 percent below San Diego and 67 percent cheaper than San Francisco.
(And don’t even ask about San Jose, the heart of the Silicon Valley).
Atlanta-area home prices may be rising, but that won’t look like a problem to someone with cash from selling a California home, Young said. “Buyers looking in Atlanta from California saw a massive savings.”
But owning even a lower-priced home typically requires some income. And the jobs picture has been pretty bright in metro Atlanta.
California, of course, is a much bigger economy with about 17.1 million jobs, compared to 4.5 million jobs in Georgia and 2.8 million jobs in metro Atlanta. But the pace of growth has been brisker here, even as the region grows more enmeshed in the global economy.
In the past five years, the number of jobs in the metro Atlanta economy has surged by 14.8 percent. California has also grown, but not as rapidly: a 13.4 percent expansion.
A migrant from the coast may also not need to surrender all that much in pay – which means having a lot more purchasing power in a state where basic services and goods are cheaper. And among the top 10 metros researched from California, Atlanta’s home prices are lowest.
According to the Federal Reserve Bank of St. Louis, the average hourly earnings in California is $30.36, and at $29.27 an hour, Atlanta isn’t so far behind.
Still, talk about California emptying out is a bit off-base, according to Trulia: There may be many people fleeing the coast, but thousands of people around the country are looking to reverse that.
There is no trend toward abandoning California, Young said.
Median home price, top destination for Californians
Las Vegas – $260,000
New York – $439,990
Phoenix – $279,000
Dallas – $312,900
Seattle – $414,950
Portland, OR – $395,000
Atlanta – $249,000
Houston – $289,900
Chicago – $259,800
Denver – $437,500
Percent of California searches, by city
Las Vegas – 8.1 percent
New York – 7.3 percent
Phoenix – 7 percent
Dallas – 5.5 percent
Seattle – 5.1 percent
Portland, OR – 3.2 percent
Atlanta – 3.2 percent
Houston – 3 percent
Chicago – 2.9 percent
Denver – 2.7 percent
Job growth, 2013-2018
Metro Atlanta: 14.8 percent
California: 13.4 percent
Source: Bureau of Labor Statistics, staff research
New apartment development is revving up in downtown Atlanta, with the latest proposal bringing a one-of-a-kind design to the city.
Kaplan Residential, which has an Atlanta office, is soon to break ground on an $86 million apartment tower at 377 Centennial Olympic Park Drive.
The 336-unit project would sit near Centennial Olympic Park, where several tourist attractions are now being revamped including Philips Arena and Georgia Aquarium. The apartment tower would rise 17 stories on a 1.5-acre site that’s catty-corner to the Center for Civil and Human Rights.
“We feel like the job story downtown is the most compelling in the city — 140,000 jobs and virtually no new Class-A apartments in the submarket,” said Nathan Kaplan, partner at Kaplan Residential. “We feel like downtown is a greatly under-supplied market.”
The apartment tower will be a first for Atlanta, as it’s being built with a prefab building material called Prescient. The product cuts high-rise construction costs by 20 to 25 percent, compared to using concrete.
It will help Kaplan achieve rental rates around $2.10 to $2.15 per square foot, a discount to typical high-rise apartments in Atlanta.
That’s critical for the downtown market, where average rental rates are at $1.66 per square foot, according to real estate analyst Haddow & Co. In comparison, both Midtown and Buckhead are seeing rental rates near $2 per square foot.
“We feel like we have a game-changer for downtown and also for the city,” Kaplan said.
The project will be called “Generation,” a brand Kaplan Residential hopes to further expand in Atlanta. The downtown project could begin delivering units in second-quarter 2020.
Niles Bolton Associates is the architect. CBG Building Co., which specializes in Prescient construction, is the general contractor.
Kaplan Residential had first unveiled its plans for downtown in 2016.
“We know that those involved in this project have worked very hard to advance it to this important beginning,” said A.J. Robinson, president of Central Atlanta Progress. “It’s a significant addition to the Centennial Park District and will fit in nicely there. We are always excited about new housing options coming to downtown.”
For the past several years, developers have concentrated most new Atlanta apartment projects in dense urban areas such as Midtown or Buckhead or neighborhoods including the Old Fourth Ward where people can live and work next to the Beltline. The areas are typically in walking distance of transit and near amenities such as shops or restaurants.
Now, new apartment development is ramping up downtown.
In the last 12 months, 238 units have delivered, according to Haddow & Co. Currently, 833 units are under construction in downtown, with another 1,325 units in the pipeline.
Recent projects downtown include the $96 million Post Centennial Park, a project that was the first significant delivery of new apartments in the city’s central business district in at least 10 years.
Developers are buying into downtown’s potential to generate apartment demand, as Georgia State University enrollment grows and more students want to live in the city after graduation. Land in other parts of intown Atlanta is also becoming more expensive, potentially making downtown a more affordable option for apartment developers in dense urban settings.
Plus, tons of new investment has come downtown, from the major renovation of Philips Arena to a $100 million expansion at the Georgia Aquarium. A massive entertainment district is planned for “The Gulch,” and German real estate company Newport US RE has acquired dozens of historic buildings in south downtown for a sweeping redevelopment.
“Downtown continues to become a more appealing market,” Kaplan said. “We are excited. When you are heading south on the highway toward the airport, you will see the Generation building. I think it will change the downtown skyline.”
112 Kiram Ter Sw, Atlanta, GA 30331
112 Kiram Ter Sw, Atlanta, GA 30331
Upper Bedrooms: 3
Baths Full: 3
Dining Room Desc: Dining/Great Rm112 Kiram Ter Sw, Atlanta, GA 30331
112 Kiram Ter Sw, Atlanta, GA 30331
Bedrooms Upper: 3
Baths Full Upper: 3
Lot Description: Valley View
Longtime Atlanta commercial real estate veteran Bo Jackson is joining Greenstone Properties, as the developer looks to bolster its acquisitions business.
Jackson is leaving real estate services company Transwestern after five years, where he was a senior managing director.
“For me, this was a question of vision,” Jackson said. “I wanted to go somewhere that I could expand my interest in acquisitions and development.”
He’ll have that opportunity with Greenstone, which has a development portfolio that includes the new $100 million Cumberland headquarters for HD Supply, a proposed 10-story building in MIdtown at 14th and Spring, and another project in Alpharetta at Georgia 400 and Old Milton Parkway.
“We have done a good job with development,” said partner De Little. “We can do more with acquisitions.”
Before his stint with Transwestern, Jackson oversaw a $3 billion portfolio for Colonial Properties Trust. He also held executive positions with Beacon Properties and global real estate company Hines. Those roles gave allowed him to build connections with multiple capital sources.
Greenstone will target mostly office property acquisitions ranging from $25 million to $200 million, primarily in Atlanta, but also in markets including Dallas, Charlotte and Nashville, among others. It will look for both suburban value-add opportunities and properties in dense mixed use environments. In recent months, it was a finalist for big acquisitions, but fell just short.
“We felt that if we had Bo we would have been first a lot more often,” said Greenstone partner Chris Schoen.
Greenstone’s plan to boost acquisitions appears to have good timing. Much of Atlanta’s office market shows strong fundamentals, but especially properties that are in walking or biking distance of amenities such as housing, restaurants and nightlife, transit or public spaces such as the Atlanta Beltline.
For example, in Midtown, which has access to many of those amenities in a dense urban environment, rates for premier office space jumped 12.5 percent year-over-year, according to data from Jones Lang LaSalle Inc.
In a recent conference call with Wall Street analysts, Cousins CEO Larry Gellerstedt said of markets such as Atlanta: “Business and consumer confidence remain positive. Office users are growing their footprints, more companies are migrating to the Sun Belt, and new supply remains in check."
Jackson said, "Foreign and domestic capital are looking for office properties, and Atlanta is high on the radar."
ATLANTA, GA. — The Falcons will be in at least three prime-time games in 2018, kicking off the 2018 NFL season with a trip to face the Super Bowl champion Philadelphia Eagles. The game will be the first regular season game of the NFL season, during the annual Thursday Night Kickoff on Sept. 6. An 8:15 p.m. ET kickoff on NBC is scheduled.
The Falcons will play their first prime-time game in week 7 on Monday Night Football at Mercedes-Benz Stadium when they host the Giants Oct. 22. The game, which will air on ESPN, will kick off at 8:15 p.m. ET.
Even more exciting could be the game in the Big Easy in Week 12 on Thanksgiving Day. In the matchup, airing at 8:20 p.m. ET on NBC, the Falcons will square off against their hated rivals, the New Orleans Saints, in the Superdome.
SEP 06 8:20 PM ET AT EAGLES (NBC)SEP 16 1:00 PM ET PANTHERS (FOX)SEP 23 1:00 PM ET SAINTS (FOX)SEP 30 1:00 PM ET BENGALS (CBS)OCT 07 1:00 PM ET AT STEELERS (FOX)OCT 14 1:00 PM ET BUCCANEERS (FOX)OCT 22 8:15 PM ET GIANTS (ESPN)BYE WEEKNOV 04 1:00 PM ET AT REDSKINS (FOX)NOV 11 1:00 PM ET AT BROWNS (FOX)NOV 18 1:00 PM ET COWBOYS (FOX)NOV 22 8:20 PM ET AT SAINTS (NBC)DEC 02 1:00PM ET RAVENS (CBS)DEC 09 1:00PM ET ATPACKERS (FOX)DEC 16 1:00PM ET CARDINALS (FOX)DEC 23 1:00PM ET AT PANTHERS (FOX)DEC 30 1:00 PM ET AT BUCCANEERS (FOX)
(For more news like this, find your local Patch here. If you have an iPhone, click here to get the free Patch iPhone app; download the free Patch Android app here.)
Photo and video courtesy YouTube
NEW YORK, April 11, 2018 (GLOBE NEWSWIRE) — Greystone Affordable Development, a leading provider of affordable housing recapitalization and rehabilitation advisory services, announces the closing of a $168.6 million multifamily housing transaction in Georgia, marking the third collaboration with Atlanta, GA-based The Hallmark Companies, Inc., an owner and manager of approximately 11,000 affordable housing rental units in the U.S.
The portfolio of affordable housing properties included 26 aged USDA Rural Development Section 515 properties (which were then consolidated into 23) comprised of 1,310 rental apartments serving low-income households in 17 counties across the state. In the statewide-pooled transaction, Greystone worked closely with USDA’s Rural Housing Service (RHS) State and National Offices and the Georgia Department of Community Affairs (DCA) to coordinate and secure the financing needed to recapitalize and rehabilitate this at-risk and much-needed housing.
“With only 38 affordable rental homes available for every 100 extremely low income households in Georgia, a large percentage of the state’s income-restricted households are severely rent overburdened. New affordable housing stock just isn’t being created fast enough to meet the demands, thus preservation of the aging stock is absolutely essential,” said Tanya Eastwood, President, Greystone Affordable Development. “We are able to not only preserve, but also modernize this vital housing stock. It is important to note that this unique and complex process would simply not be possible without Housing Credits and Private Activity Bonds.”
“The rural areas of the U.S. are often overlooked for real estate investment, so we appreciate how valuable the portfolio preservation strategy is for owners committed to serving rural residents,” said Joyce White, State Director of Georgia, USDA Rural Development.
The financing plan combined both public and private funding, and included:
Tax-Exempt Bonds – Single issuance of $54.3 million in publically offered multifamily private activity tax-exempt bonds from the Housing Authority of Macon-Bibb County.Low-Income Housing Tax Credit Equity – Purchase of 4% Federal and State LIHTCs by Boston Financial Investment Management, generating $54 million in capital contributions.RHS 515 Debt – Assumption and subordination of $27.6 million of original USDA Section 515 debt, as well as $368,000 in new USDA Section 515 debt awarded to two of the properties through Rural Development’s Multifamily Preservation and Revitalization (MPR) Program. The Section 515 program is a direct loan program designed to provide subsidized loans to developers of affordable housing in rural markets.Senior Debt of $27.3 million in USDA Section 538 loans provided by Greystone Servicing Corporation, Inc.Excess Reserves, Project Operations, Investment Income, and Deferred Developer Fees totaling $5 million.
The rehabilitation plan includes a fast-paced construction phase, estimated to be complete within 24 months, during which no residents are expected to be permanently displaced. Substantial renovations, averaging $37,000 per unit, will include both interior and exterior improvements. Particular emphasis will be placed on bringing the properties, built between the late 1970s and the mid-1990s, up to modern standards, addressing accessibility, functional obsolescence and deterioration. This transaction includes the goal to achieve an overall energy savings of at least 20% at each property via installation of energy efficient measures such as ENERGY STAR certified windows, doors, and appliances, high efficiency water heaters, and insulation upgrades.
“With the critical need for affordable housing in Georgia, we are inspired by Hallmark’s proactive efforts in preserving this critical housing stock,” said Laurel Hart, Director, Housing Finance & Development Division, Georgia Department of Community Affairs. “We would love to see other owners in Georgia embrace this process, which is clearly something of a ‘secret sauce’ that Greystone has developed for the benefit of thousands of affordable housing residents.”
"Greystone has been an incredibly valuable partner in our role as stewards of affordable housing in the southeast,” said Pete Petersen, President, The Hallmark Companies, Inc. “Their sincere commitment to our residents is what drives such a complex transaction to the finish line, and we look forward to working on future transactions together.”
“We strive to create a blueprint for preservation that can be replicated across the country as we continue to seek opportunities to recapitalize and rehabilitate multiple properties in a single transaction, said Will Eckstein, Senior Vice President, Greystone Affordable Development. “These public / private partnerships not only preserve and improve much-needed affordable housing in rural communities, it drives economic investment and is a win-win for all. We especially thank Hallmark for their continued confidence in Greystone to guide them through this process for the third time and their commitment to affordable housing across the state of Georgia and the Southeast.”
The deal team included:
ArchitectWallace Architects, LLC (Columbia, MO)Bond IssuerThe Housing Authority of Macon-Bibb County (Macon, GA)Bond Issuer’s CounselSpivey, Pope, Green, and Greer, LLC (Macon, GA)Bond UnderwriterStifel, Nicolaus & Company, Incorporated (Montgomery, AL)Bond Underwriter’s CounselTiber Hudson (Washington, D.C.)Co-Bond Counsel Butler Snow LLP (Atlanta, GA)Co-Bond CounselDinsmore & Shohl LLP (Cincinnati, OH)Borrower’s CounselColeman Talley LLP (Valdosta, GA)DeveloperHallmark Development Services, LLC (Atlanta, GA)Developer’s ConsultantGreystone Affordable Development (Raleigh, NC)General ContractorGreat Southern, LLC (Valdosta, GA)Permanent LenderGreystone Servicing Corporation, Inc. (Warrenton, VA)Permanent Lender’s CounselBallard Spahr LLP (Washington, D.C.)Rating AgencyS&P Global Ratings (New York, NY)Subordinate LenderUSDA Rural Housing Service (Washington, D.C.)Tax Credit SyndicatorBoston Financial Investment Management, LP (Boston, MA)Tax Credit Syndicator’s CounselGallagher Evelius & Jones LLP (Baltimore, MD)TrusteeUS Bank (Atlanta, GA)Trustee’s CounselSmith, Gamble & Russell, LLP (Atlanta, GA)
About Greystone Affordable Development
Greystone Affordable Development, a Greystone affiliate, is a development and transaction management group that is focused on meeting the challenges associated with the recapitalization, rehabilitation and preservation of affordable housing throughout the U.S. To date, the group has coordinated the rehabilitation and preservation of over 11,000 apartment units (305 properties) with another 2,000 in various stages of completion in seven states. The group’s mission is to create meaningful and significant impacts on communities by helping to provide low-income households with decent, safe affordable housing.
Greystone, together with its affiliates, is a real estate lending, investment and advisory company headquartered in New York. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products; Mortgage servicing; Real estate investment and development; Acquisitions / management of multifamily properties and healthcare facilities; Affordable housing preservation; Public transportation real estate management; and Real Estate sales advisory. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.
ATLANTA (CBS46) –
Many house hunters in Atlanta are experiencing sticker shock. The prices for properties in metro Atlanta continue to climb and with inventory down, it’s creating bidding wars for buyers.
Jon Pokrzyk is house hunting and in Atlanta where property prices are rising, he knows now is not the ideal time to buy. but he needs to.
"I just got married in September so my wife recently let me know that she got pregnant," said Pokrzyk.
This newlywed and soon-to-be new father has been out bid on several properties. And he’s finding out his dollar isn’t going as far as it used to.
"We’ve expanded the budget greatly as we’ve been shopping," said Pokrzyk. "Originally we were around the five to seven hundred thousand dollar range and we’ve expanded it closer it six hundred to a little bit over a million dollars.
The median home price in metro Atlanta is two hundred fifty thousand dollars. That’s ten percent more than just a year ago.
The reason for the high prices is low inventory. But the Atlanta housing market has something unique happening: people from outside of the area are moving here and trying to cash in on what was once an affordable place to live.
"They’re saying Atlanta is on sale. They cant believe the prices because where they’re from in Palo Alto the house would be 4.5 million and they can get it here for 1.7," said Christian Ross with Village Realty.
Christian Ross has been dealing Atlanta Real Estate for 13 years. She’s never seen prices rise this fast. And she doesn’t believe they’ll come down.
"I do not see any kind of bubble in our sight especially when we have companies like amazon that would have a huge impact," said Ross. "We have the film industry that’s making a five billion dollar impact on the state. I don’t see any slowing down."
Maybe not slowing down but more bidding wars could be heating up.
Copyright 2018 WGCL-TV (Meredith Corporation). All rights reserved.
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Donald Glover FX)
There’s a reason folks in the comments section of the YouTube promo for “Helen” called this the “Get Out episode.”
After kicking off the episode with a spit-taker – Earn (Donald Glover) going down on Van (Zazie Beetz) in the show’s most explicit sex scene to date – we hop to the “couple” driving away from the city to Helen, Ga., a little village northeast of Atlanta in the aptly-named, White County. Van apparently grew up in or around Helen, and regularly participated in the city’s Oktoberfest celebration as a kid.
The parallels between Jordan Peele’s Oscar-winning blockbuster are there, ranging from conversations about whether Earn will enjoy this decidedly non-Black event to the boar in the middle of the country road that they almost hit.
Their discussions about oral sex “tongue confidence” while high and whether Black women can be considered brunettes (which I guess I never thought about), remind you that you are, indeed, watching Atlanta.