Excerpted from Atlanta Business Chronicle story.
In Atlanta, rental costs have increased 48% since 2010 and have outpaced wage growth in the region. Atlanta loses 1,500 affordable housing units annually, a trend that hits moderate and low-income families hard.
Typically, the housing is replaced by higher-cost units.
Andrew Braden of Braden Fellman compared the work it’s doing with Tenth Street to the way tech startups use innovation to tackle complex challenges, in this case providing workforce housing.
The 13-acre purchase of the apartments was brokered by Jake Reid, Chad DeFoor and Roger Schoerner of real estate services firm Franklin Street. Wesley Turner with Krevolin Hurst was the real estate attorney. CBRE Group Inc.’s Yakhin Israel arranged the financing.
For full story, visit https://www.bizjournals.com/atlanta/news/2019/08/20/in-atlanta-they-see-a-housing-opportunity-that-ot.html?iana=hpmvp_atl_news_headline