Briarcliff Summit Apartments

Briarcliff Summit Apartments was originally built in 1924 as a hotel by Atlanta businessman Asa Chandler Jr., son of Asa Chandler the founder of the The Coca-Cola Company. This iconic historical structure operated as a hotel for many years but was converted into its current use as low income housing in the 1980s. The conversion of the property resulted in the creation of 201 units of affordable housing, comprised of a mix of studio, one bedroom and two bedroom aparments which serve elderly and disabled residents. It was also during this period that the property was placed on the National Register of Historic Places, solidifying its importance as a cultural and historic resource within the Virginia Highlands Neighborhood of Atlanta.

Briarcliff Summit Apartments
1050 Ponce de Leon Avenue
Atlanta, Georgia 30306
(404) 872-8214

Office Hours: M-F 9:00 am-5:00 pm

Includes Before & After Gallery

Preservation Transaction Description

First Mortgage Financing: Evergreen Partners worked with Grandbridge Real Estate Capital to secure new 1st mortgage financing through the HUD 221(d)(4) loan program.

Equity Financing: Equity was raised through the sale of the 9% Federal and State Low Income Housing Tax Credits and the sale of Federal and State Historic Tax Credits generated by the project to Wells Fargo Affordable Housing Community Development Corporation.

Other Key Financing: The City of Atlanta via Invest Atlanta provided a subordinate loan to the project to assist in the acquisition and renovation of Briarcliff Summit Apartments.

Section 8 Contract Renewal: Yes, a new 20-Year HAP contract effective November of 2012.

Property Rehabilitation Scope

Over $11.850 million in total rehabilitation is planned for Briarcliff Summit Apartments, including:

New kitchen cabinets, countertops, fixtures and appliances
New bathrooms vanities, fixtures and lavatory
New flooring throughout the units and common area
New high split HVAC system in each unit
New central hot water boilers
New roof and windows
Exterior brick repair and preservation of the buildings defining historic features
New security cameras and site lighting
New community space with large meeting/activity room, fitness area, library, wellness center and private resident service area