Capitol View Apartments Designated On Georgia Register of Historic Places
Columbia Residential is proud to announce that Capitol View Apartments, renovated in 2021 as a mixed-income community, was recently added to the Georgia Register of Historic Places, as recognized by the Georgia Department of Community Affairs.
The original Art Deco-style Capitol View Apartments was built in 1948 for World War II veterans and their families and was comprised of 120 one and two-bedroom units. Sadly, the community had fallen into disrepair over the last several decades.
Prior to Columbia Residential’s acquisition of the community in 2018, Capitol View Apartments was considered “naturally occurring affordable housing,” meaning despite being in disrepair, its rents were unrestricted yet affordable to low-income residents. Because of this, it was at high risk of converting to market rate and displacing long-time residents. This made it a strategic property to acquire, renovate, and preserve as affordable housing in a historic neighborhood undergoing rapid gentrification.
After purchasing the property in August 2018, Columbia Residential embarked on a comprehensive $27 million renovation over three phases. This redevelopment was structured to preserve affordability for residents earning between 40 and 70 percent area median income (AMI) through partnerships with key stakeholders, including the City of Atlanta, Invest Atlanta, Enterprise Community Partners, Atlanta Housing, Partners for Home, Bank of America and through a pre-development grant from The Annie E. Casey Foundation. The redevelopment was completed in August 2021, delivering 120 affordable, fully renovated one and two-bedroom classic apartment homes, including 24 supportive housing residences and wrap-around services for very low-income residents.
The renovated apartment homes feature spacious interiors with abundant natural light, fully equipped kitchens with ENERGY STAR® appliances, energy-efficient lighting and fixtures for improved air quality and utility savings, restored original red oak hardwood flooring and ceramic tile baths. On-site amenities include a business center, fitness center, community garden and covered pavilion with grills. The community is conveniently located to public transportation, shopping and entertainment with easy access to downtown Atlanta.