12Hundred Studios Ribbon Cutting – Atlanta, GA
10/2022
Press Release
Tenth Street Ventures And Partners Celebrate Ribbon Cutting With Atlanta Mayor Andre On 12hundred Studios On Mobile St In Atlanta’s Hunter Hills
The 40-unit apartment complex has been revamped with attainable rents at 60% AMI; American South Fund Management impact fund supports affordable housing developments for low-income residents throughout the South
ATLANTA (Oct. 17, 2022) – Tenth Street Ventures along with partners Miles Alexander III at Alexander Goshen and Richard Taylor with ARRC Capital Partners with Atlanta Mayor Andre Dickens and other officials celebrated the ribbon cutting of 12Hundred, at 1200 Mobile St., a 40-unit, garden-style apartment complex in the Hunter Hills neighborhood just West of downtown Atlanta. Atlanta Affordable Housing Fund (AAHF) provided the senior loan for the project, while American South Fund Management (ASFM) provided equity.
The team converted the vacant property into 40 studio apartments, all of which are fully furnished and available for attainable rents at 60 percent of Area Median Income (AMI). In addition, 25% of units are reserved for individuals either currently experiencing or exiting homelessness through partnerships with Open Doors and HomeFirst. The team closed on the project April 19, 2021 and used no subsidies to create this attainable housing. 12Hundred Studios won CoStar’s 2022 Impact Award for Best New Multifamily Development in Atlanta.
