Developers break ground on Atlanta affordable housing development with 250 available units

Developers break ground on Atlanta affordable housing development with 250 available units


The development came together with a $2 million contribution by Atlanta BeltLine, Inc.

ATLANTA — Developers broke ground Tuesday on an apartment building in Atlanta near the Southside BeltLine that promises to provide 250 new affordable housing units.

The Skyline Apartments development on Hank Aaron Drive in Peoplestown came together by a $2 million contribution by Atlanta BeltLine Inc. (ABI), the private-public partnership that oversees BeltLine development.

ABI is working toward eventually getting 5,600 affordable units built around the BeltLine. According to ABI, it’s a little more than halfway (53%) there.

Credit: EXACT CAPITAL GROUP

“We’re proud that ABI, alongside our partners, has now exceeded 50% of our affordable housing goal,” said Atlanta BeltLine, Inc. President & CEO Clyde Higgs said in a statement back when the development was announced in February. “We continue to aggressively build the pipeline of housing around the Atlanta BeltLine and explore new avenues to help residents remain in their homes.”

The BeltLine Twitter account posted pictures of the groundbreaking Wednesday morning.

According to ABI, the complex will include a “community room, a fitness center, an outdoor pavilion, central laundry facility, and access to public transportation.”

According to the BeltLine, the development will include 46 studio units, 101 one-bedroom apartments and 103 two-bedroom apartments. ABI says this development will contribute to a total of 600 apartment units that are under development currently in the area.

The apartments will be available to people earning 60% or below of the Area Median Income – in Fulton County, it is $85,700, so about $51,420. 

The development group is led by Exact Capital Group, LLC with New York-based Aleem Construction handling the building.

ABI explains its affordable housing funding process like this:

Funding for developments like Skyline Apartments comes from the Atlanta BeltLine Affordable Housing Trust Fund (BAHTF), created in 2005. The BAHTF contributes to the creation and preservation of affordable units within the BeltLine Tax Allocation District (TAD). The TAD is a financing tool that is projected to cover approximately a third of the costs to build out the Atlanta BeltLine. Invest Atlanta administers BAHTF funds on behalf of ABI and, for Skyline Apartments, served as the bond issuer and handled application intake, underwriting, and board approvals.

ABI notes that pre-leasing is already available for 156 affordable units at The Milton in Peoplestown, as well.

The nearby portion of the Southside BeltLine is currently unpaved but set to begin construction next year thanks to a U.S. Department of Transportation RAISE Grant.

Exact Capital is a vertically integrated real estate development firm with over 30 years of experience in acquisitions, financing, and development across the United States.

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Raul Castro ESQ

Counsel Fund Development
Raul is a seasoned attorney with extensive experience in both Big Law and in-house counsel roles, providing legal advisory services to Exact Capital. He specializes in advising broker-dealers and registered investment advisors on a broad range of regulatory, compliance, and securities law matters

Kevin J Ollie

Director - Business Development, Board Member. Kevin
joins Exact Capital as a distinguished member of the business development team, bringing over three decades of leadership , expertise and wealth of experience from his distinguished 25 career in professional basketball and coaching. Kevin’s commitment to excellence and his ability to foster strong relationships have been evident throughout his career. His experience in high-pressure environments and his proven track record of success make him an asset to Exact Capital as we continue to expand and innovate in the industry.

Lamar D. Williams,

Managing Director - Co-Partner Fund
Lamar brings over 25 years of financial sector expertise to Schulman Lobel CPA LLP. His distinguished career includes roles such as Managing Director at Cherry B Holland CPA, LLP, and Managing Partner of Sports and Entertainment at Berenfeld, Spritzer, Schecter, and Sheer CPA. In his current role, Williams focuses on acquiring GP and LP capital, leveraging his deep knowledge in business management, tax strategy, and cost segregation.

Renee Franco,

VP of Asset Management
With over 30 years in the multifamily industry, Renee Franco specializes in asset management, covering development, renovation, and lease-ups. Holding a Master’s in Business Management, she is a Certified Apartment Manager (CAM) and holds several industry certifications. As President of the Tennessee Association of Affordable Housing, Renee advocates for affordable housing policies and initiatives.

Brett Jureller

Director of Development - Design and Construction
Brett leads design and construction for Exact Capital, handling pre-construction, budgeting, and project management. Specializing in multifamily and mixed-use development, he has overseen projects totaling over $1 billion. Brett’s experience includes roles at Cape Advisors and JDS Development, and Turner Construction. He holds a Bachelor’s from Bucknell University and a Master’s in Real Estate Development from New York University.

Michael Callaghan,

Partner at Exact Capital
Michael Callaghan, Partner at Exact Capital Michael, as Partner, directs development, property management, and construction at Exact Capital. He manages real estate development across various asset classes, focusing on sourcing, negotiation, and financing. Michael plays a key role in building relationships with governmental agencies, banks, and community groups, essential for the firm’s development success.

Jack Heaney

Director of Real Estate Development
Jack oversees Exact Capital’s development pipeline, managing due diligence, feasibility, financing, and marketing. With over a decade in real estate development, previously he founded Fulcrum Properties and Architecture, focusing on sustainable mixed-use and affordable housing. An executive advisory member of the Urban Land Institute, Jack holds a Bachelor’s in Architecture and a Master’s in Real Estate Development from Columbia University.

Craig Livingston

Managing Partner, Exact Capital
Craig Livingston serves as the Managing Partner of Exact Capital, where he oversees the firm’s development activities, including structuring, negotiating, financing, and managing real estate ventures. With extensive experience in the industry, Mr. Livingston has advised, structured, and executed financing for numerous transactions within the firm’s real estate portfolio, totaling over $1.5 billion across multifamily, retail, and hospitality assets. As Chair of Exact Capital’s Investment Committee, he has spearheaded the firm’s regional expansion beyond New York, identifying strategic opportunities in emerging markets. Beyond his leadership at Exact Capital, Mr. Livingston is deeply involved in the real estate community. He serves as Board Chair of the New York Real Estate Chamber (NYREC), a consortium of diverse real estate developers throughout New York City and State. Mr. Livingston holds a Bachelor’s degree from the University of Connecticut and earned his MBA from Columbia Business School. He began his career at Booz Allen before moving into the financial sector at Goldman Sachs.