Wendover Opens Mixed-Income Atlanta Property
The $28 million project adds 131 market-rate and rent-restricted units to the city's rental inventory.
Wendover Housing Partners and LIHTC equity partner Cabretta Capital have opened Hartland Station, a 131-unit mixed-income community in Atlanta.
In April 2020, the developers acquired the 6-acre vacant land for the project for $1.8 million, public records show. Slocum Platts Architects designed the $28-million partially affordable housing project, while Palmetto Interiors provided interior design services and Roger B. Kennedy Construction served as general contractor.
Located at 2040 Fleet St. SW, the community features one-, two- and three-bedroom apartments with floorplans ranging from 759 to 1,204 square feet. The three-story property is partially affordable and has 40 units set aside for residents earning 50 percent or below the area median income along with 70 units reserved for those earning up to 60 percent of the area median income.
Hartland Station provides a clubhouse, fitness center, business center, activity room, tot lot, splash pad along with a picnic and grilling area.
The community is within walking distance of several shopping and dining options and has easy access to Interstate 85. Atlanta Metropolitan State College, Atlanta Technical College, Perkerson Park and Cellairis Amphitheatre at Lakewood are within 2 miles of the property. Downtown Atlanta is roughly 5 miles northeast.
Urban Residential Finance Authority of the City of Atlanta provided $18.8 million in tax-exempt bonds for the project. The financing was later purchased by Regions Bank, Yardi Matrix data shows.
Additional funding includes Low Income Housing Tax Credits allocated by the Georgia Department of Community Affairs, $1.5 million in the form of Housing Opportunity Bonds financed by Invest Atlanta as well as a $1.3 million grant funded by the Metropolitan Parkway tax allocation district.