1 QC Property in Georgia

The Georgia Department of Community Affairs (DCA) is providing notice that a LIHTC property is seeking a Qualified Contract for acquisition from a buyer(s) who will continue to operate the property as affordable through the extended use period in accordance with the Land Use Restriction Agreement and Section 42 of the Internal Revenue Code.

Property Name: Ashton Walk Apartments A/K/A Ashton Forest Park LP

Georgia DCA ID#: GA ID #2003 – 526

Address: 4950 Governor’s Drive, Forest Park, GA 30297 (Clayton County)

City: Forest Park

Number of Units: 150

Number of Low-Income Units: 150

Tenancy: Housing for Older Persons

Qualified Contract Price: $14,330,832

QC Period Expiration: 11/25/2026

Expiration Date of Extended Use Period: 12/31/2035

The subject property is an existing LIHTC multifamily property constructed in 2005 and known as Ashton Walk Apartments and is located at 4950 Governors Dr. Forest Park, GA 30297. The required tenancy is seniors 55+. The property consists of 150 units: 66 – 1br/1ba units (702 square feet), 84 – 2br/2ba units (985 square feet). All the units are LIHTC, set aside at 60% AMI. The property has 2 total residential buildings and 2 LIHTC BINS. The on-site amenities include planned social activities, BBQ and picnic areas, a business center, community room, controlled access entry, elevators, a gazebo, on-site laundry facilities, and fitness center. The apartment buildings have 3 stories. The exterior walls are wood-frame construction with vinyl siding and brick and the roofs are pitched with composition shingle. The HVAC system is a total electric heat pump system with pad-mounted condenser. The utilities are all electric.

The Property is in Forest Park, Clayton County, an easy drive to many major retailers including ALDI, Home Depot, and the shops at the Southlake Mall. Additionally, Hartsfield-Jackson International Airport is only a 10-15 drive. Major transportation arteries near the property include I-75 and I-285. Entertainment options within 15 miles of the property include the Georgia Aquarium, State Farm Arean, and Mercedes-Benz Stadium. Nearby employment centers/hubs include Hartsfield-Jackson Atlanta International Airport, Army National Guard, Emory University, Lockheed Martin, Northside
Hospital, Delta Airlines, and Coca-Cola.

The property was funded with Low Income Housing Tax Credits and still carries restrictions in accordance with those funding program restrictions until maturity on 12/31/2035. Ashton Walk is not a Project-Based Section 8 property. However, the community does accept tenant-based Housing vouchers, wherein the subsidy is attached to the household rather than a specific unit.

The apartments are 94% leased as of the date this description was provided to Georgia DCA. The subject property contains 129,072 square feet of rentable area. The site area is 9.20 acres or 400,752 square feet. See unit listings and photos on http://www.georgiahousingsearch.org.

Please email all inquiries for additional information on the property to the Georgia Department of Community Affairs to the attention of: [email protected] with the subject line as follows: “Request for additional information on a Qualified Contract Property”, and include the Property Name and the Georgia DCA Project ID number provided in this
listing narrative in the email subject line as well.

Georgia DCA Disclaimer:
The information provided in this chart and on DCA’s website was provided by the owners of the properties and has not been independently verified by DCA. All interested parties are responsible for conducting their own independent due diligence of the properties, their existing financing and their current/future operating potential. DCA provides this information on the properties in its capacity as the tax credit allocating agency for Georgia in accordance with Section 42 of the IRS code. DCA makes no representation or warranties regarding the accuracy or validity of any information provided by DCA relating to the properties.

Contact Georgia DCA If You Need Additional Information: 

Need additional information, or interested in submitting an offer to purchase?
The next step is contacting DCA to see if your team meets the minimum experience requirements to purchase a Georgia DCA affordable property.
All purchasing teams must be approved by Georgia DCA before a bona fide contract can be submitted to the owner via the DCA Qualified Contract Agreement. Send an email to: [email protected] and include the Georgia ID Number and Property Name, along with “QC Listing Inquiry” in the email subject line. DCA can then provide the QC submission documents to get started on the due diligence process.