Hunter's Grove Apartments
Located in suburban Atlanta, just west of Six Flags
Over Georgia, Hunter's Grove is a mixed-income apartment community notable for its
affordable yet luxurious lifestyle.
Acquired from the Federal Resolution Trust Company,
Hunter's Grove is a 200-unit property that was financed using tax-exempt bonds in 1995,
rescuing a property victimized by the Savings and Loan debacle of a decade ago. Owned in
partnership with the Washington, D.C.-based NHP Foundation, Hunter's Grove is representative
of a mixed-income property, as 50% of its units are income restricted and 50% are market rate.
Hunter's remains the most conventional multi-family housing property in PRI's portfolio, being also
one of PRI's most beautiful properties, with fine landscaping, a pool, fitness center and clubhouse
that stamps it as "upscale." Hunter's is located near the Six Flags Over Georgia entertainment
park in suburban Atlanta, making it one of two Cobb County PRI properties.
Hunter's Grove Apartments
575 Six Flags Drive
Austell, Georgia 30001
770-941-9440
|
Property-at-a-Glance |
| Completion Date: |
1995 |
| Number of Units: |
200 |
| Developer: |
Progressive Redevelopment, Inc. and Cornerstone Housing Corporation |
| Architect: |
N/A |
| General Contractor: |
N/A |
| Property Management: |
CJ Management |
| Funding Sources: |
Tax-exempt Bonds |
| Development Type: |
Acquisition |
| Property Type: |
Apartments |
| Development Profile: |
70 - 1-bedroom units
100 - 2-bedroom units
30 - 3-bedroom units |
| Residential Profile: |
100 units restricted to 60% of Area Median Income
100 units at market rates |
| Amenities: |
- Swimming Pool
- Tennis Courts
- Laundry Facility
- Playground
- Fitness Center
- Fireplaces in most units
|
| Supportive Services provided on-site: |
Services at this community include crisis intervention
and support for community and civic involvement. |
| Total Development Costs: |
$5,175,000 |
|