Cooperative Resource Center : Georgia’s Source for Affordable Housing

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Crescent Hills Apartments

 

Rehab – Multi-family – Urban Preservation

 

In 2002, Crescent Hills gained national news recognition as one of the most notoriously dilapidated complexes in the City of Atlanta. The Community Alliance of Metropolitan Parkway (CAMP) had tried working with several experienced developers to purchase and rehab the property, but to no avail. Then CAMP began a working partnership with CRC, and everything changed. Since making the purchase in 2004, CRC has completely renovated Crescent Hills, from sinks and appliances to electrical and plumbing systems. Once a haven for crime, the complex now boasts a large community center where residents enjoy life skills and adult education seminars, and children participate in afterschool and summer day camp programs. Crescent Hills is a phenomenal example of how the dedicated efforts of nonprofit organizations can create success in the face of overwhelming difficulties.

 

Financing: Paramount Financial Group, Freddie Mac, FHLB AHP Program

Crescent Hills