WWJ’s $117 million pooled bond transaction is believed to be the first of its kind in Georgia. The deal involves 44 properties with 1,362 affordable units.
Without a pooled transaction, developers would have only been able to finance a few projects at a time, so it would have taken years to renovate the large number of properties in the portfolio.
WWJ has made key improvements at the properties, including replacing roofs, appliances, carpets, and windows. Sites are also gaining a new amenity such as a playground or gazebo.
The units in the Georgia Preservation Portfolio are reserved for residents earning no more than 60 percent of the area median income.