Phone No: + 1 888 464 8188
GROWTH by NCRC
  • Notification
  • Menu Canvas
    • ABOUT US
      • Core Values
      • Meet Our Team
      • NCRC
    • PROPERTIES
    • INSPIRATION
    • PARTNERS
    • RESOURCES
      • FAQs
      • Careers
      • Homeownership Blog
      • News
      • Events
      • Mortgage Calculator
Phone No: + 1 888 464 8188
Follow Us:
GROWTH by NCRC
  • ABOUT US
    • Core Values
    • Meet Our Team
    • NCRC
  • PROPERTIES
  • INSPIRATION
  • PARTNERS
  • RESOURCES
    • FAQs
    • Careers
    • Homeownership Blog
    • News
    • Events
    • Mortgage Calculator

Affordable New Construction in Vine City, ATL

Homepage Growth News Affordable New Construction in Vine City, ATL
Growth News

Affordable New Construction in Vine City, ATL

October 29, 2021
By Admin
0 Comment
119 Views

By GROWTH by NCRC / October 29, 2021 / News 

(revised 1/28/22)                                                         

 GROWTH by NCRC and Riddle Property Group, LLC Plan New Construction Townhomes in Vine City

New Parkview Development to Provide Opportunities for Building Generational Wealth and Community Revitalization

Vine City
Exterior rendering

ATLANTA, GA (October 29, 2021) – Riddle Property Group, LLC, in partnership with The NCRC Housing Rehab Fund, LLC (NCRC HRF), known as GROWTH by NCRC, signed a development agreement to build affordable new townhomes in Atlanta’s historic Vine City neighborhood. The Parkview development, located across from the new Rodney Cook Sr. Park near the corners of Walnut St. NW and Thurmond St. NW, will feature 72 new townhomes featuring 3-4 bedrooms and 2.5 baths.

Just west of downtown Atlanta, Vine City is a historic community rooted in a strong local identity forged by a diverse and active African American community. During the early 20th century, the Vine City area was a middle-class African American neighborhood. Many prominent Atlantans called Vine City home, including Dr. Martin Luther King, Jr., Maynard Jackson, Julian Bond and Atlanta’s first Black millionaire, Alonzo Herndon. In addition, Vine City is also known for its iconic institutions including Morehouse, Spelman, and Morris Brown Colleges. In recent years, the neighborhood has been plagued by blight, substandard housing, crime, displacement and poverty.

Parkview is a development committed to reclaiming the rich history of Vine City. The development is less than half a mile from the Vine City and Ashby MARTA stations and just steps away from the Westside Beltline Connection. It’s easy access to transportation helps support a key pillar of the Mayor’s One Atlanta agenda: safe, affordable and equitable options for mobility. Community assets and amenities include Washington Park, the Georgia Aquarium, Centennial Park, State Farm Arena, Mercedes Benz Stadium, Walmart and Publix.

Developer Riddle Property Group, LLC (RPG) is an Atlanta-based, minority real estate owner, operator and developer. The real estate firm was awarded a $2 million Tax Allocation District (TAD) grant from Invest Atlanta to  construct 72 for-sale townhomes – 21 of which will be affordable. Additional funding from Invest Atlanta is available for down payment and closing cost assistance to buyers that meet income qualifications.

“Parkview is a community-aligned residential real estate project in the heart of historic Vine City,” said RPG’s CEO Jeff Riddle. “Parkview is committed to the Vine City neighborhood vision statement, which encourages developers to create a diverse and sustainable, multi-generational community with high quality mixed housing that promotes homeownership. Parkview will accomplish this and more.”

GROWTH by NCRC, a joint partner in the Parkview project, provides homeownership opportunities for low- and moderate-income communities and people, with a focus on communities of color. In five years, GROWTH has invested $133 million in almost 915 homes nationwide. GROWTH by NCRC also provides workforce development and housing counseling through local partnerships with community organizations in the areas they serve.

“We are a mission-driven real estate fund helping to make homeownership possible for working-class and BIPOC people across the country,” said Ed Gorman, Managing Director, NCRC Housing Rehab Fund. “We are honored to partner with the RPG and Invest Atlanta on the Parkview project. Working together we are focused on addressing decades of segregation and disinvestment, bringing affordable housing and community development throughout the area. Everyone deserves a fair shake at the American Dream of homeownership.”

Nearly 75% of Vine City is rental units with many units vacant and in desperate need of renovations. Together GROWTH, RPG and Invest Atlanta are working to create pathways to capital essential for neighborhood investment, revitalization, renovations and new home construction. Decades of neglect and a history of segregation and limited access to mortgages and financial services to communities of color have put home ownership out of reach for many residents in the historic neighborhood.

The project is slated to break ground in November with the first closings taking place in summer 2022.

###

About GROWTH by NCRC

We believe that no matter where you start in life, or the neighborhood you live in, every family deserves the opportunity to own a home, to start building wealth and to enjoy the American Dream. Our mission is to make homeownership possible for more people.

GROWTH is an initiative of the National Community Reinvestment Coalition (NCRC) and is fueled by the NCRC Housing Rehab Fund (the “Fund”), a private equity real estate fund focused on rehabbing (and building new construction) single-family houses to provide affordable homeownership opportunities in low- and moderate-income communities or for low- and moderate-income people. The Fund has been operating for five years and is operating in nineteen cities.

For more information about NCRC Housing Rehab Fund, please contact Ed Gorman, egorman@ncrc.org, (202) 464-2728 or visit www.growthbyncrc.com.  

 About Riddle Property Group

Riddle Property Group, LLC (RPG) is an established minority real estate owner, operator, and developer headquartered in Atlanta, Georgia. Since 2005, RPG has acquired, repositioned, developed, and operated over $20 million in real estate assets in Atlanta, Georgia and Chicago, Illinois. RPG and its affiliate brands own and manage over 500,000 square feet of commercial, residential, and industrial space in the aforementioned cities. RPG prides itself on doing good for the community, while doing well economically for its Partners.  For more information, please contact Jeff Riddle at jeff@riddlepropertygroup.com.

Revised 1/28/22

Tags: Affordable homeownership Atlanta Homeownership homeownership New Construction in Atlanta Vine City

Previous Story
First-Time Buyers and LMI Buyers Priced Out of Market
Next Story
Optimism Abounds for Latino homeownership

Related Articles

From Wall Street: Forget Owning. Rent the American Dream Instead

Despite what Wall Street says, homeownership is the cornerstone of...

affordable homeownership

GROWTH Story: Why Our Life-Changing Mission is so Important to Me.

Our Story: Why Our Life-Changing Mission of Affordable Homeownership is...

Mortgage Payments

mortgagecalculator
Follow Us:

Tags

affordable homeowernship Affordable homeownership affordable homes Affordable Homes Atlanta Affordable Homes in Birmingham affordable housing Appraisal Discrimination Atlanta Homeownership Build Back Better Chicago Homes for sale CRA Decatur Housing Discrimination in Appraisals discriminatory lending Energy Efficiency fair housing fair housing act fair housing rules FHFA first time homebuyer first time homebuyers GROWTH by NCRC Homebuyers homeownership housing housing affordability housing counseling housing crisis housing discrimination housing inventory HUD impact of redlining Infrastructure bill LMI housing new construction New Construction Birmingham New Construction Chicago New construction Parma Heights Redlining Senate Bill Spring maintenance spring maintenance checklist spring maintenance tips what is redlining winter home checklist

Talk With Us

    Recent Post

    • Spring Cleaning Tips for a Sparkling Home Monday, 22, Mar
    • GROWTH by NCRC Managing Director Ed Gorman Leads Affordable Homeownership Session at NCRC’s Just Economy Conference Monday, 27, Jun
    • Many Americans Resort to Risky Financing to Purchase a Home Friday, 15, Apr
    • From Wall Street: Forget Owning. Rent the American Dream Instead Friday, 1, Apr
    • GROWTH Story: Why Our Life-Changing Mission is so Important to Me. Saturday, 26, Mar
    • Tips for Single Parents Looking to Buy a Home Tuesday, 22, Mar

    Our Partner

    GROWTH is an initiative of the National Community Reinvestment Coalition (NCRC), designed to create pathways to homeownership for low- and moderate-income (LMI) individuals and families while improving property values for LMI communities.

    Contact Us

    • 740 15th St NW, Suite 400, Washington, DC 20005
    • Phone: 888-464-8188
    Contact Us

    Quick Links

    • Find Your Home
    • Partner With Us
    • Resources
    • Careers
    • Blog
    • News
    • Events
    Copyright ©2020 GROWTH by NCRC. All Rights Reserved | Terms | Privacy | Code of Conduct | DMCA
    SearchPostsLogin
    Monday, 22, Mar
    Spring Cleaning Tips for a Sparkling Home
    Monday, 27, Jun
    GROWTH by NCRC Managing Director Ed Gorman Leads Affordable Homeownership Session at NCRC’s Just Economy Conference
    Friday, 15, Apr
    Many Americans Resort to Risky Financing to Purchase a Home
    Friday, 1, Apr
    From Wall Street: Forget Owning. Rent the American Dream Instead
    Saturday, 26, Mar
    GROWTH Story: Why Our Life-Changing Mission is so Important to Me.
    Tuesday, 22, Mar
    Tips for Single Parents Looking to Buy a Home
    Saturday, 19, Mar
    Birmingham Mayor Woodfin, GROWTH by NCRC Deliver Affordable Homeownership

    Welcome back,