Columns at East Hill Cooperative
Located just minutes from downtown Decatur, the
Columns at East Hill is nestled in a wooded enclave, with easy access to both schools
and transportation.
One year after Belvedere Pointe Cooperative,
PRI engaged in its second cooperative development, the Columns at East Hill. Similar
to Belvedere Pointe, the Columns property was an abandoned eyesore and scene of
numerous visits from the Decatur City police. However, the site had several positive
features. It contained numerous mature trees, and the exterior of the brick-clad buildings
was attractive and in good condition. Working with the Congregations for Affordable
Housing, which arranged the pre-development financing by borrowing money from
its member congregations for this worthwhile purpose, PRI assembled the construction
and permanent financing and worked with the general contractor to completely renovate
the buildings and improve the site. Today, the Columns at East Hill is a very attractive
enclave, having long been a part of the revitalization of its Oakhurst neighborhood in
south Decatur.
Columns at East Hill Cooperative
135 East Hill Street
Decatur, Georgia 30030
|
Property-at-a-Glance |
| Completion Date: |
1992 |
| Number of Units: |
28 |
| Developer: |
Progressive Redevelopment, Inc. |
| Architect: |
Smith Dalia Architects |
| General Contractor: |
Michael Hughes Company |
| Property Management: |
Managed through Columns at East Hill Cooperative, Inc. |
| Funding Sources: |
- DeKalb County Rental Rehab
- Federal Home Loan Bank, AHP Program
- National Cooperative Bank Loan
- State of Georgia Housing Trust Fund
|
| Development Type: |
Rehabilitation |
| Property Type: |
Apartment Cooperative |
| Development Profile: |
28 2-bedroom units |
| Residential Profile: |
14 units restricted to 50% of Area Median Income
14 units restricted to 80% of Area Median Income |
| Amenities: |
- Washer/Dryer connections in each Unit
- Dishwashers in each Unit
|
| Supportive Services provided On-site: |
None; Units are owned by residents |
| Total Development Costs: |
$1,100,000 |
|