R. H. Ledbetter Properties has received a $15 million equity investment from American South Capital Partners (“ASCP”), through its $174 million American South Real Estate Fund II, to develop a 236-unit multifamily community in the Atlanta suburb of Carrollton, GA. 

When completed in the second half of 2027, Carrollton Flats will bring to market a mix of one-, two- and three-bedroom apartment homes.  Although Carrollton Flats will be a superior market rate community with a premium level of amenities, including a resort-style pool, community clubhouse, 24-hour fitness center, grilling stations, pet park and green space, unit rents will remain attainable to middle-income individuals and families of the area workforce, presenting a new and compelling housing option for the Greater Carrollton community. This partnership between Ledbetter Properties and ASCP reflects their commitment to supporting high-quality, purpose-driven attainable housing within rent-burdened communities across the Southern United States.

“Increasing attainable housing is a local government priority so a lot of credit goes to the forward-thinking Carrollton city officials, including the Mayor, members of the City Council, the City Manager and Director of Economic Development for recognizing the need for attainable housing and the impact it has on economic and job growth” said Joe Holmes, Executive Vice President of Development for Ledbetter Properties.   

ASCP, a joint venture of SDS Capital Group and Vintage Realty Company, provides equity financing for real estate sponsors with projects located in 10 Southern states (Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas). The American South Real Estate Funds I and II funds have, to date, collectively committed $199M to 29 projects, financing 7,632 housing units – 81% of them affordable to families at less than 80% of the AMI. 

“We have demonstrated our commitment over the past eight years to quality developments and investments throughout Georgia in markets including multiple neighborhoods in Atlanta and College Park. We are excited about this new venture with. Ledbetter Properties, which will provide much needed attainable housing for the Carrollton community” said David Alexander ASCP Managing Partner and CEO of Vintage Realty Company. 

More than half the renters in Carrollton are cost-burdened, meaning that they pay more than 30 percent or more of their income on housing related costs.  As a result, approximately 80 percent of the 25,000 people who work in Carrollton live outside the city to afford housing.

“Carrollton’s strong job growth in recent years has outpaced the supply of housing options within the city,” said Deborah La Franchi, ASCP Managing Partner and CEO of SDS Capital Group. “With most new development over the past two decades focused on large-lot homes outside Carrollton, Carrollton Flats will create attainable housing for the local workforce, allowing the people who drive the city’s economy to live here, not just commute here.” 

840 Woodrow to Deliver Mixed-Income Housing and Community Amenities Along the Westside Trail

ATLANTA, Ga.– 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.

VPG Holdings and American South Capital Partners (“ASCP”), a joint venture of SDS Capital Group and Vintage Realty Company, has acquired a 250-unit apartment community in New Orleans, LA. 

Built in 2009 and located at 2651 Poydras St., The Marquis features a combination of non-restricted and deed-restricted affordable housing units comprised of one-, two-, three-, and four-bedroom floorplans. The project features a variety of unit affordability levels including a large portion at deeper affordability levels for tenants earning less than 60% AMI. 

ASCP and VPG’s investment into The Marquis will ensure the long-term quality housing at various affordability levels. The partnership plans to invest significant capital into funding deferred maintenance and interior improvements, with the focus on implementing more energy and water efficient appliances including water heaters, dishwashers, refrigerators and air conditioners. 
  
Approximately one in three renter households in the New Orleans MSA are considered “severely cost-burdened” paying 50% or more of their income on rent, according to the Harvard Joint Center for Housing Studies. 

“ASCP shares in our goal of providing quality housing to residents while preserving the property’s long-term affordability,” said VPG Holdings CEO Michael Merideth.   

“VPG operates and invests mostly in the Greater New Orleans market,” said David Alexander ASCP Managing Partner and CEO of Vintage Realty Company. “They bring a professional platform and are driven to provide high-quality, affordable housing to the region.”   

“We pride ourselves by aligning with companies like VPG who develop and preserve quality affordable housing throughout the United States,” said Deborah La Franchi, ASCP Managing Partner and SDS Capital Group CEO. “We hope this is the first of many ventures with VPG as we work together to help improve the lives of many more families across the South.” 

ASCP invests in affordable housing real estate projects located in 10 Southern states (Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas).  ASCP funds have collectively committed more than $176 million to 25 projects, financing more than 7,071 housing units – 83% of them affordable to families at less than 80% of the AMI.