The two subsidiaries are Gellerstedt Development LLC and Gellerstedt Consulting LLC. Gellerstedt has recruited Chuck Winstead, a longtime Skanska and Beers executive; Jim Privette, who was part of the original management team at the Atlanta Development Authority; and Allyson Shoptaw Watkins, a former vice president of capital markets at the Shoptaw Group.
"As a native Atlantan, two things have always stood out for me--the potential of Atlanta's urban core to become a more vibrant community and the city's commitment to excellence in almost everything it builds," says Gellerstedt, whose family name has been synonymous with top construction projects in the city for 75 years.
Winstead, a principal in The Gellerstedt Group, sees a niche for the company in consulting services. "Our success with extraordinary and difficult developments has built a basis of knowledge and insight that is unmatched in the industry," he says. "Our consulting clients could be organizations that have ventured outside their comfort zones to do something exciting and innovative, or even developers who simply need a second opinion or additional expertise.
"We will help them get it done on time and on budget, while delivering on the promises they have made to their constituencies," he adds.
Privette, who will also serve as a principal at The Gellerstedt Group, says "many developers have realized in the past four years just how challenging it is to develop intown residential housing."
"Our team has a proven record of developing intown, including unique residential communities and mixed-use projects," Privette says. He is confident "there are outstanding opportunities near the heart of the city for savvy developers."
Watkins will oversee funding and development of residential projects. At the Shoptaw Group, she raised capital for real estate investment funds from individuals with high net worth, foundations and university endowments. She worked with the capital markets team to raise over $26 million in equity for a multifamily investment fund.
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