Ribbon Cutting Celebrated at 12Hundred Studios
Developers, Tenth Street Ventures, Alexander Goshen and ARRC Capital Partners along with Atlanta Mayor Andre Dickens, U.S. Congresswoman Nikema Williams, Georgia Senator Sonya Halpern and Atlanta City Council member Byron Amos celebrated the ribbon cutting of 12Hundred Studios at 1200 Mobile St., a 40-unit apartment complex in Atlanta's Hunter Hills neighborhood. Atlanta Affordable Housing Fund (AAHF) provided the senior loan for the project, while American South Fund Management (ASFM) provided equity. The team converted the vacant property into 40 fully furnished studio apartments, all of which have attainable rents at 60 percent of Area Median Income (AMI). Additionally, 25% of units are reserved for unhoused individuals through partnerships with Open Doors and HomeFirst. 12Hundred Studios won CoStar's 2022 Impact Award for Best New Multifamily Development in Atlanta.
Photo: Alexander Goshen