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Second Vote on Trestletree Village Expected Thursday

Urban Residential Finance Authority is to hold second vote on issuance of up to $15 million in bonds.

The Urban Residential Finance Authority is expected to take a second vote Feb. 21 on the proposal to issue up to $15 million in bonds for a planned redevelopment of the Trestletree Village apartment complexes in Ormewood Park and Grant Park.

This second vote, which is required, follows the Dec. 20 approval the finance authority body already gave to the project. It is slightly less than the $15.6 million sought and approved in the earlier vote.

Trestletree Village, which provides federally subsidized housing, includes the 80-unit Trestletree North at 794 Ormewood Ave. SE in Grant Park and the 108-unit Trestletree South at 904 Confederate Court SE in Ormewood Park.

The finance authority is part of Invest Atlanta, the city's chief economic development arm.

Denver-based Community Housing Concepts Inc. purchased the Trestletree properties in 2012.

The company projects a total outlay of $22.8 million, which includes acquisition, setting aside funds for an operating reserve and other expenses.

It is seeking Invest Atlanta's aid with the bond issuance to offset some of those costs.

If approved, construction could start as early as April and take 12 months to complete.

The properties are to remain low-income rentals when the renovations are finished.

Jason Vicious February 21, 2013 at 03:25 PM
This sucks!
Chris H February 21, 2013 at 04:26 PM
A bulldozer would really help out these buildings a lot. Fixing these up will not change the fact of the negative quality of life issues this apartment complex causes to Grant Park and Ormewood Park neighborhoods.
long time reseident February 21, 2013 at 05:11 PM
So I'm confused. The units in Grant Park have had bundeles of rof shingles along the ridge for several weeks now. I'm not expert but this is the first step in a "slap dash" re-roof of putting new shingles over the old ones. Clearley in the architect rendering the roof pitch and front gable are different than current. It seems to be just a formality before construction starts in April so they better hurry up and get the job done before taking the whole roof off and changing the roof line. Please explain.
Péralte Paul February 21, 2013 at 05:57 PM
I'll find out for you, long time resident.
Will Dean February 21, 2013 at 08:36 PM
Out of curiosity, are there any readers whom are neighbors to either Trestletree facility which support this redevelopment? Please speak up. For the record, I would prefer them to be demolished.

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