Gorman & Co. is making a big push into Atlanta by breaking ground on its first development and establishing a new office in the city for its Southeast market team.
The firm is set to start construction on the 60-unit Residences at Westview, which will feature one-, two-, and three-bedroom units. Six units will be market rate, and 54 units will be home to residents earning 50% and 60% of the area median income. Gorman will work with service provider Atlanta Catholic Charities to offer after-school programs and tutoring services to students and families.
"Commencing construction on Residences at Westview marks a significant milestone in creating more effective and affordable housing solutions in the Atlanta community,” said Joel Reed, Southeast market president at the firm.. “We’re excited to establish our presence in Atlanta as a developer and community leader with projects like this.”
Financing partners for the $17.3 million development include first mortgage lender U.S. Bank and federal and state tax credit equity investor RBC Community Investments.Along with the groundbreaking of Gorman’s first Atlanta-based project, the firm is opening an office in the historic Sweet Auburn neighborhood to serve as home base for Reed, development project manager Brock Thompson, and lead architect Jonathan Assimwe while offering a physical space for Gorman’s partners to work in and connect with the community at large.
Company leaders said the office is an important marker in Gorman’s growth as they begin placing roots in several of their markets to create better relationships and partnerships that further their projects and mission.
Headquartered in Wisconsin, the firm revitalizes communities through innovative housing partnerships with municipalities, governmental organizations, and nonprofits. It specializes in downtown revitalization, preservation of affordable housing, workforce housing, and the adaptive reuse of historically significant properties.
