Middleburg Communities Reaches Stabilization on Totally Renovated and Repositioned 956-Unit Atlanta Workforce Housing Portfolio

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Middleburg Communities Reaches Stabilization on Fully Renovated and Repositioned 956-Unit Atlanta Workforce Housing Portfolio

ATLANTA, GA – Middleburg Communities, a Vienna, Virginia-based real estate investment, development and management company, has stabilized through the extensive renovation, repositioning and leasing of three employee shared apartments totaling 956 units in the Atlanta area . Vesta Bouldercrest, Vesta Adams Park and Vesta Camp Creek were mostly empty and in an extremely dilapidated condition when Middleburg acquired the land. The company invested a total of $ 91.0 million, including purchase and renovation costs, for all three properties.

"Middleburg has completed a complete transformation of these three communities, which are now bustling with residents and community activity. We are delighted that we have maintained and improved the quality and quantity of Atlanta workers' housing," said Duane Wooldridge, Middleburg Management President. "With the intense work of our development, construction and operations teams, each community is now essentially a new asset and will fill an extreme labor shortage void in this region and to rent and operate upon completion." Middleburg is a complete integrated development, construction and management company and has managed every aspect of the renovation work.

Residents of all three properties will benefit from new energy efficient HVAC units and upgraded and refurbished finishes for the one, two and three bedroom apartments at Camp Creek and Adams Park. The residential units now feature new drywall, LVT floors in the common areas with carpeted floors in the bedrooms, new closets, granite countertops, modern lighting fixtures, new energy efficient appliances and plumbing fixtures. The exterior of the buildings benefited from having all of the siding either repaired or replaced and painted, and new gutters and downspouts installed everywhere. Once construction is complete, Middleburg will expand facilities in each parish, adding common areas, fitness centers, playgrounds, and BBQ areas where they didn't previously exist, and renovating swimming pools and basketball courts where they were allowed to fall into disrepair in previous years.

Vesta Bouldercrest, Vesta Adams Park, and Vesta Camp Creek have Middleburg's Signature Program, Local Heroes, which respects and honors firefighters, police officers, paramedics, and K-12 public school teachers by giving them a rental discount on all Middleburg properties and – Developments granted by municipalities. Middleburg introduced Local Heroes as an expression of his firm belief that those who serve our communities should be able to live in our communities.

The founder and managing partner of Middleburg Communities, Chris Finlay, was also founded in 2015 to offer employment and housing opportunities.

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