This Atlanta Suburb Bets First Major Construction Since 2009
ATLANTA—There are challenges. There are environmental issues, for example, that at first made the site cost prohibitive for new construction.
By
Jennifer LeClaire |
jenniferleclaire |
|
Updated on May 26, 2016
X
Thank you for sharing!
Your article was successfully shared with the contacts you provided.
ATLANTA— Wendover Housing Partners just broke ground on an affordable, multifamily community on the Atlanta suburb of Lithonia, GA. Granite Crossing is located in Downtown Lithonia Plaza. Construction on the 75-unit multifamily community is set to begin in August 2016 with the first residents expected to move in during the summer of 2017. Granite Crossing marks the newest major construction in Lithonia since 2009 and will serve as the cornerstone of the city’s sustainable revitalization plan for transforming its downtown. “With properties across the Southeast, Wendover is always looking for new locations that would benefit from workforce housing,” Jonathan Wolf , president and founder of Wendover, tells Globest.com. “I was drawn to the building site in Lithonia after viewing the city’s 2012 Blueprints Report, which included long-term plans to redevelop the area. For years, government officials and Lithonia community members have sought better, affordable housing options to attract new families and spark growth in the city.” Crews are demolishing the existing 80,000-square-foot city-owned building. That location has been vacant since 2009 and was recently accepted into the State Brownfield program. The demolition will make way for the $14.7 million multifamily project. There are challenges. There are environmental issues, for example, that at first made the site cost prohibitive for new construction. City officials, however, pressed through to create a remediation plan to replace the dilapidated building with a development that would stimulate economic growth for existing merchants and hopefully drive additional business to Lithonia. Wendover joined in a complex partnership with the State of Georgia, Lithonia Downtown Development Authority (LDDA), the City of Lithonia and Bainbridge GP. LLC to bring this shared goal to fruition. “The addition of housing in the Lithonia Plaza will bring new families as well as complement the existing retail and help to foster new business growth and development in the city,” said Lithonia Mayor Deborah A. Jackson . “After years of planning, Wendover’s Granite Crossing project is the first major step towards the City’s goal of transforming the downtown area.” Granite Crossing will feature one, two and three-bedroom units with monthly rent ranging from $750 to $1,000. A clubhouse with a fitness area, computer lab and an activity room for after-school programming. Additionally, residents will be able to entertain their families on-site with an outdoor splash park and playground equipment. Meanwhile, another Atlanta suburb is showing multifamily strength. Get all the details .
Want to continue reading? Become a Free ALM Digital Reader.
Once you are an ALM digital member, you’ll receive:
Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications
*May exclude premium content
Already have an account? Sign In Now
In today’s rapidly changing real estate landscape, staying ahead means understanding what’s next. Discover key strategies and emerging trends driving the future of corporate real estate.
Transform your lease administration. Download this eBook to discover five essential tips that will help you streamline processes, reduce risks, and maximize efficiency.
Join this on-demand webinar to explore best practices in real estate lease administration. Learn how to streamline your operations and achieve cost savings while ensuring compliance with lease accounting standards.
Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!
Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.