Forget the Olympic fanfare that happens every four years. For the residents of Gateway Apartments at Northside Village, the connection with the historic international games is footsteps away—the property is within walking distance of Centennial Olympic Park, built for the 1996 Summer Games.
Developed by Southeast Capital Partners, Gateway Apartments is home to an economic mix of renters. “We would have done it all affordable,” principal Satish Lathi says of the $29 million project, but Atlanta, like many cities, wanted mixed-income housing for the project, which is part of a redevelopment area. The 261-unit property includes 39 market-rate apartments, 182 tax-credit units, and 40 units of government-subsidized units. The project, which was completed in late 2004, was 50 percent leased in February.
Those residents get to take advantage of a number of amenities, including a two-story common area with a view of Atlanta's skyline. “It's very nice,” admits Lathi, who says the property's aesthetics and amenities are an investment in the neighborhood's future. “We control about 12 acres on Northside Drive,” he says, “so we wanted to set the bar high.”