19 Apr Real Estate Briefs: Affordable housing, new communities, Ken Covers raises funds
Select Fulton, in partnership with the City of Atlanta, has announced that the Fulton County Board of Commissioners approved the City Views at Rosa Burney Park Acquisition-Preservation Project on March 4 establishing the City Views Urban Enterprise Zone. Jonathan Rose Companies, in conjunction with Columbia Residential, its local partner, will invest $49,433,983 to acquire and rehabilitate the City Views at Rosa Burney Park, a 181-unit affordable housing complex. The project consists of a 112-unit tower and 69 units of townhouses, across a mix of one-, two-, three-, four-, and five-bedroom family unit types which 85% of units are currently affordable and subsidized under a HUD project-based rental assistance. This designation of the urban enterprise zone will create affordable housing units for families earning no more than 60 percent of the area median income.
Homebuilder Empire Communities has announced that it plans to break ground on five new Intown residential communities. With homes starting in the mid-$300Ks to low-$400Ks+, the five communities under development are in Old Fourth Ward, Kirkwood, East Atlanta, Buckhead and West Midtown. Empire Communities entered the Atlanta market in 2019 when it formed a partnership with Edward Andrews Homes. With sales beginning as early as this summer, Empire is expected to open a temporary sales center in Ponce City Market in May. For more details, visit empireatlanta.com.
The 7th annual Midtown Garden Stroll, originally set for May 17, will be reschedule due to the COVID-19 outbreak, according to a post the Midtown Neighbors’ Association website.
Ken Covers, advisor with Engel & Völkers Atlanta, recently braved the icy water of Acworth Beach in the middle of winter in support of the Special Olympics Georgia athletes. Covers raised over $2,000 for the cause and the event raised over $90,000. The Polar Plunge is the largest fundraising event for the Special Olympics.