 ACT first invested in Atlanta in the mid-1990's, with a stake in the Grandview Apartments, a 226 unit highrise in the Buckhead district. On its completion in 1990, we faced high interest rates, a moribund condo market, and the worst recession in 20 years in the US real estate industry. However, instead of pulling back like many Asian investors, we persevered with a new investment strategy. We continued investing, focusing on moderate income multi family housing with the Julian Lecraw Company. When the apartment and condo market started to boom again in the late '90s, we were well positioned to capitalize on it, with condo conversions such as the 100 unit Melrose Park in midtown. ACT has had an outstanding decade, and is poised to make an even greater impact on the city of Atlanta.
Our expansion into the retail sector, through the Atlanta Chinatown Square, is also performing beyond expectations. Fueled by buoyant demand in the ethnic market, we are breaking ground on the Chamblee International Village, a 30 acre, 500,000 square feet shopping center/retail office park in Chamblee. This PUD (Planned Unit Development) will house a Public Market, a Trade and Culture Center, shops, restaurants, and an outdoor auditorium for artistic and community events.
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Paces Green
converted condos in Buckhead, Atlanta. |
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Canton Mill
A joint venture with Aderhold Group, Canton Mill was converted into moderate income loft apartments circa 2001. |
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Lenox Villas Apartments
A co-investment with Julian Lecraw & Co, Lenox Villas Apartments was successfully converted into condos in 2002/-3. |
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The Ponceana
Conserved apartments in Midtown Atlanta. |
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The Grandview
36 storey condo, in Buckhead, Atlanta.
(Completed 1990) |
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