Woodfield Development & American South Capital Partners Finalize Land Closing for $76M BeltLine Project Bringing Affordable Housing to Atlanta’s Westside

Staff Report From Georgia CEO

Wednesday, June 18th, 2025

Woodfield Development, one of the nation’s leading developers of Class A multifamily communities, has closed on the land for 840 Woodrow, a transformative mixed-use project located on Woodrow Street SW in Atlanta’s historic Westside. The site sits directly along the Atlanta BeltLine’s Westside Trail and marks a major milestone in bringing high-quality affordable housing and community-centered development to Southwest Atlanta. The opportunity was sourced in partnership with Vida Companies, an Atlanta based, mission-driven development firm that played a key role in the project’s early entitlements and design.

Slated to break ground in the coming weeks, 840 Woodrow is a $76.76 million development that will include 326 new residential units, with 66 units designated as affordable/workforce housing exceeding the City of Atlanta’s Inclusionary Zoning requirements. Five percent of units will be reserved for individuals utilizing tenant-based vouchers.

The project is being developed in partnership with American South Capital Partners (ASCP), a joint venture of SDS Capital Group and Vintage Realty Company, which has committed over $176 million to 25 projects across the Southern U.S., financing more than 7,071 housing units, 83% of which are affordable to families earning less than 80% of the Area Median Income (AMI). The 840 Woodrow development marks the first collaboration between Woodfield Development and ASCP, reinforcing both firms’ dedication to equitable, community-driven housing solutions. Adam Bieber, Alec Jenkins, and Nicholas Kazma of BWE advised and arranged the equity and debt for the project. This initiative supports Atlanta’s broader housing goals and contributes to the revitalization of Adair Park and the Westside through sustainable investment and inclusive economic development.

“This land closing is a significant step forward in bringing thoughtful, inclusive development to the Westside,” said Vice President and Regional Development Partner of Woodfield Development, Patrick Kassin. “We’re proud to partner on a project that expands housing access, supports local businesses, and reflects the creativity and culture of this community.”

840 Woodrow will also feature subsidized commercial space for local entrepreneurs, including repurposed shipping container storefronts, and an adaptive reuse of an existing building into a job training facility and headquarters for a locally based coffee roaster committed to local hiring. The project is designed to reflect the surrounding neighborhood while enhancing its future through public art programming, sidewalk improvements, and community-driven amenities.

“The City of Atlanta has an admirable goal of increasing the supply of quality housing that is affordable for its residents, and by partnering with Woodfield we can help deliver on that promise,” said David Alexander, ASCP Managing Partner and CEO of Vintage Realty Company.

Located in a fast-evolving corridor with direct access to the BeltLine, 840 Woodrow is expected to generate more than 500 construction jobs and 40+ permanent jobs, while significantly increasing local tax revenue. According to Develop Fulton, first-year tax contributions are projected to exceed $640,000, up from just over $16,000 in 2022.

This milestone follows the Develop Fulton Board’s unanimous approval of a bond resolution in April 2025, a key step in advancing the project’s financing and long-term impact. The project is expected to break ground within 30 to 40 days, with construction underway shortly thereafter. 

840 Woodrow thoughtfully incorporates repurposed commercial spaces to support startups and local businesses, contributing to economic growth and community vibrancy. A key investment includes $1.5 million allocated for brownfield remediation, ensuring environmental safety and site revitalization. Additionally, the development embraces adaptive reuse strategies aimed at workforce development and training. Enhancements such as public art installations, improved streetscapes, and direct BeltLine connectivity further enrich the neighborhood experience and promote walkability and cultural engagement.

For more information, please visit woodfielddevelopment.net.