ANDP & LAUREL STREET RESIDENTIAL
Creekside at Adamsville Place
COMING FALL 2020
On June 24, 2019, affordable housing developers ANDP and Laurel Street Residential broke ground on Creekside at Adamsville Place, a new rental community designed to provide much needed affordable housing in the City of Atlanta.
ANDP was pleased to welcome Atlanta Mayor Keisha Lance Bottoms who was on hand for the official groundbreaking. The event served as a backdrop for the release of the Mayor's One Atlanta: Housing Affordability Action Plan.
The $27 million, 147-unit development will offer rental rates affordable to families at 30%, 60%, and 80% of Area Median Income.
The development is located adjacent to ANDP's Martin House at Adamsville Place in the Southwest Atlanta neighborhood of Adamsville.
Once a haven for drug trafficking and violence in the 1980s and 90s, the 32-acre tract on Martin Luther King, Jr. Drive was acquired by ANDP in 1999. The City of Atlanta demolished the dilapidated buildings and in 2003, ANDP and its partners developed Martin House at Adamsville Place, a 152-unit active senior housing community. In subsequent years, the location has become home to Fulton County’s Adamsville Regional Health Center and Atlanta Heights Charter School.
The final parcel of land is now home to Creekside at Adamsville Place. The 147-unit rental family development will offer much needed affordable housing. Financing for the project includes 4% Low Income Housing Tax Credits from Georgia Department of Community Affairs and Tax-Exempt Bonds and Housing Opportunity Bonds from Invest Atlanta. Red Capital is providing first mortgage financing for the project. RBC Bank is the Federal and State equity investor.
Construction is expected to be completed in Fall 2020.
Atlanta Neighborhood Development Partnership
Laurel Street Residential
U.S. Department of Housing & Urban Development
Georgia Department of Community Affairs
Walton Construction Services
Corcoran OTA Group