Zimmerman Properties SE, LLC is spearheading a grand opening and ribbon cutting Friday, May 19 at 11:30 a.m. at the Villas at Mt Zion and the Flats at Mt Zion, 3297 Mt. Zion Road, Stockbridge.

The new affordable community in unincorporated Stockbridge in Clayton County, just south of Atlanta, includes the Villas at Mt Zion, a 96-unit senior, independent living community (age 55+), and the Flats at Mt Zion, a 210-unit multi-family community for families with children who attend Mt. Zion Elementary and Primary Schools.

Principal participants on hand for the ribbon cutting and grand opening include, Bob Davidson, COO, Zimmerman Properties; Tab Bullard, Zimmerman Properties SE; Audrea Rease, Star-C Programs; Marjy Stagmeier, TriStar; Duncan Gibbs, TriStar; Mitch Kelly, Department of Community Affairs; Jeff Turner, Chair of the Clayton County Board of Commissioners; Dr. Anthony Smith, Interim Superintendent with Clayton County Public Schools; as well as other officials from the Housing Authority of Clayton County and Clayton County Board of Education.

The development includes a gated entry and reciprocal easements to allow all residents to enjoy the swimming pool, exercise facility, computer library, playgrounds, outdoor garden and the Early Learning Center (ELC), which will be staffed by nonprofit Star-C.

“We are especially thankful for Clayton County Planning & Economic Development who worked with us through the entire development process and the Housing Authority of Clayton County who issued the tax-exempt bonds for the financing and is also a partner in the transaction,” says Bob Davidson, COO, Zimmerman Properties. “We’re also thankful for TriStar Investments for connecting us with nonprofit Star-C, which will be providing a multitude of free on-site services to the residents, including an after-school program, summer camps, health and wellness programs and food security.”

Zimerman and TriStar, with the cooperation of Star-C, are exploring similar ventures leveraging LIHTC in Birmingham, Charleston, Charlotte and Greenville.

The development was designed by Buxton-Kubik-Dodd Architects and Summit Contracting Group is the General Contractor. Wilhoit Properties, Inc., an affiliate of Zimmerman, is the Management Agent and manages more than 215 affordable housing communities in 18 states with more than 17,000 affordable housing units. Zimmerman Properties has developed 124 affordable housing communities in thirteen states providing more than 8,100 units of modern affordable housing.

The development was financed with construction financing granted by Bank of America and permanent financing underwritten through Key Bank and placed with Fannie Mae. Key Bank Capital Markets also provided the underwriting for the tax-exempt bond issuance which was placed with Truist Bank.

In addition, the Georgia Department of Community Affairs provided federal and state low-income housing tax credits for the development of these properties. Raymond James Tax Credit Funds acquired the federal tax credits and Sugar Creek Capital acquired the state tax credits.