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Jonathan Rose, Columbia Residential JV Buys Mechanicsville MF for $25M

A joint venture of NY-based Jonathan Rose Companies and Atlanta-based Columbia Residential, in conjunction with neighborhood non-profit SUMMECH Community Development Corp., acquired City Views at Rosa Burney Park, a 181-unit family Section 8 and LIHTC community near downtown Atlanta for $25 million. The community is located in the rapidly revitalizing Mechanicsville neighborhood, and preserves vital affordable housing in Atlanta.

The garden style apartments range from two to five bedrooms, as well as a tower of one bedrooms. A $16.5 million renovation of the property is planned, encompassing reactivation of unused community space, as well as new LVT flooring, new kitchens, bathrooms, appliances, low-flow plumbing fixtures and LED light fixtures.

Jonathan Rose Companies’ Brandon Kearse says, “Our development and investment renews the HAP contract covering 154-units for 20 years, and preserves the affordability of all units at a mix of 40%, 60% and 80% AMI levels through the new LIHTC income-averaging set-aside program for the next 30 years.”

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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