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Windsor Stevens Obtains Construction Loan for Atlanta Mixed-Income Project
Windsor Stevens has raised $56 million for a multifamily development on Atlanta’s Westside. The Proctor, located at 698 Oliver St. NW, will have 137 residential units, 41 of which will be affordable.
The 41 affordable units will be in a Class A luxury mixed-income, mixed-use property building, serving households earning at or below 80% of the area median income. These units will be designated for AH’s Housing Choice Voucher recipients for at least 30 years.
The project units will average 813 square feet, and the building will also include 10,000 square feet of ground-floor retail space. Development at The Proctor will be funded by various public and private partners, including a $4.1 million investment by Atlanta Housing. Other investment partners include a $26.1 million loan from Goldman Sachs, AUDC, Basis, and Rod Mullice and a $3.2 million Invest Atlanta TAD Grant.
A groundbreaking ceremony for The Proctor is anticipated for early November, and construction is expected to be complete in May of 2026.
- ◦Development
- ◦Financing
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