Tenth Street Ventures (TSV) along with partners Braden Fellman Group have purchased The Winnwood, an 89-year-old apartment building, at 1460 West Peachtree Street, in Midtown.
The partners are applying for historic designation for the 24-unit apartments that until recently were owned by the Whitehead family since being constructed in 1930.
The property remained in the family until the death of Cecil S. Whitehead in the 2010s.
“We’re going to restore The Winnwood to its historic glory,” Brian McCarthy, a principal at TSV, said in a press release.
“We believe people want the charm of historic buildings [and] we also believe that by renovating them—instead of tearing them down to build something new—our approach provides more affordable options for people wanting to live in Midtown.”
This was the fifth major transaction by TSV in 2019, a year in which the two-year-old company grew to more than 500 units and $100 million in assets under management.
The company buys, designs and renovates properties with its in-house team, with the goal of keeping properties more affordable for the working class than new builds.
Tim Holdroyd and Nik Hatzis from City Realty were the brokers.
The lender is LendingOne.
2 Responses
I think this is a great idea. I have admired that apartment building since moving to Atlanta in 1973. It is such a shame that the 5 unique Apartment buildings at Pershing Point were torn down in the 80s. Now we have a boring National Linen Service building and a hole, instead of the vibrant community that once inhabited Pershing Point.
Excellent idea by TSV/Braden Felden Group. A higher level of thinking than usual from Atlanta builders-think boring, mundane architecture.
I am trying to locate an article on the original intent of The Winnwood Apts for an artist community built by the owners family!