Windsor Stevens has successfully secured $56 million in funding for a new multifamily development on the Westside of Atlanta. The project, known as The Proctor, will be located at 698 Oliver St. NW and will consist of 137 residential units.
Out of these units, 41 will be designated as affordable housing for households earning up to 80% of the area median income. These affordable units will be part of a Class A luxury mixed-income and mixed-use property that aims to serve low-income families for at least three decades.
The average size of the project’s residential units is expected to be around 813 square feet. In addition to this, there will also be approximately 10,000 square feet allocated for ground-floor retail space within the building.
Funding for The Proctor comes from a combination of public and private partners including Atlanta Housing who has invested $4.1 million into the project. Other investment partners include Goldman Sachs with a loan amounting to $26.l million from AUDC Basis and Rod Mullice along with an additional contribution worth $3 .2million from Invest Atlanta TAD Grant.
Construction on The Proctor is set to begin in early November with completion expected by May2026.This marks an exciting milestone in Windsor Stevens’ efforts towards providing quality housing options in Atlanta’s Westside community.
