Boston-based Wingate Companies is under contract to buy both halves of Trestletree Village, a 1940s-50s, 21-acre garden-apartment complex split by the BeltLine's new Southeast Trail between Grant Park and Ormewood Park, and has asked Invest Atlanta for $25 million to help finance the overhaul.
The plan would tear down the low-rise buildings and consolidate all 188 existing Section 8 units, which now rent for $479 to $812 a month, into a single mid-rise building on the south parcel, ringed by market-rate apartments and a parking deck.
The Grant Park Neighborhood Association voted 40-3 against the funding request, joined by its own land use committee and the group South Atlantans for Neighborhood Development, arguing that concentrating every affordable unit in one building breaks with best practice for integrating income levels.
Grant Park's board is sending its objection to Invest Atlanta, which is expected to vote on the funding in September; Wingate still has to close on the property by the end of the year.
Why it matters
Invest Atlanta's vote in September will decide whether the city funds concentrating a project's affordable units in one building or spreading them across the site.
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