Promoting Housing Options >> Housing Development

1993-078 Concord Village

Concord Village Apartments

Peachtree City, Georgia

Fayette County

Total Units: 180

Qualified Contract Price: $11,991,425

Current Financing: Refer to financing documents

Concord Village is currently encumbered by a term loan from NXT Capital, LLC in the original amount of $14,320,000 which is secured by first mortgages on Concord Village and a second apartment property, Gwinnett Station which is located in Tucker, Georgia.

Qualified Contract

Period Commencement: February 20, 2012

Project Description

Location

Concord Village Apartments is a multifamily apartment community located at 100 Peachtree Station Circle, Peachtree City, Georgia 30269. Constructed in 1995, Concord Village is situated on 20.83 acres and consists of twenty two and three story residential buildings and a leasing office/clubhouse.

Unit Mix

Concord Village contains 180 apartment units, consisting of: twenty (20) two-bedroom, one and one-half bathroom units with approximately 1028 rentable square feet; sixty (60) three bedroom, two bathroom units with approximately 1224 rentable square feet; twelve (12) three bedroom, two bathroom units with approximately 1386 rentable square feet; and eighty-eight (88) four bedroom, two bathroom units with approximately 1386 rentable square feet. All units in the property are equipped with washer/dryer connections and outdoor storage areas.

Project Amenities

The amenity package at Concord Village consists of a swimming pool, a playground, a basketball court, a laundry facility with ten washers and dryers, and an afterschool program. The afterschool program provides programming for elementary school through high school aged children, as well as certain adult programming. The afterschool program is staffed and run by The Association of Village Pride, Inc., a local non-profit organization, with the costs of the program being shared between the AV Pride and the property.

Construction Type

Constructed in 1995, the property contains wood frame construction with a combination of vinyl siding and brick veneer. The roofs are pitched and consist of plywood decking with asphalt shingles. All HVAC systems, hot water heaters and kitchen appliances at the property are powered by electricity provided by the Coweta-Fayette EMC. Water and sewer services are provided by Peachtree City, and waste removal services are provided by Waste Management.

Documents

Aerial and Project Photographs

Appraisal

Environmental

Peachtree ESA NXT

QR Capital ESA Reliance

Financing Documents

Land Use Restrictions

Title

Disclaimer: With the exception of certain recorded documents, all information contained and/or referred to herein was provided by the owner. DCA makes no representations or warranties regarding the accuracy of such information.







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	Enabling Economic Development Promoting Housing Options Community Development Block Grant (CDBG) Homeownership Rental Assistance Housing Development Homeless & Special Needs Fostering Sustainable Development		Promoting Housing Options >> Housing Development 1993-078 Concord Village Concord Village Apartments Peachtree City, Georgia Fayette County Total Units: 180 Qualified Contract Price: $11,991,425 Current Financing: Refer to financing documents Concord Village is currently encumbered by a term loan from NXT Capital, LLC in the original amount of $14,320,000 which is secured by first mortgages on Concord Village and a second apartment property, Gwinnett Station which is located in Tucker, Georgia. Qualified Contract Period Commencement: February 20, 2012 Project Description Location Concord Village Apartments is a multifamily apartment community located at 100 Peachtree Station Circle, Peachtree City, Georgia 30269. Constructed in 1995, Concord Village is situated on 20.83 acres and consists of twenty two and three story residential buildings and a leasing office/clubhouse. Unit Mix Concord Village contains 180 apartment units, consisting of: twenty (20) two-bedroom, one and one-half bathroom units with approximately 1028 rentable square feet; sixty (60) three bedroom, two bathroom units with approximately 1224 rentable square feet; twelve (12) three bedroom, two bathroom units with approximately 1386 rentable square feet; and eighty-eight (88) four bedroom, two bathroom units with approximately 1386 rentable square feet. All units in the property are equipped with washer/dryer connections and outdoor storage areas. Project Amenities The amenity package at Concord Village consists of a swimming pool, a playground, a basketball court, a laundry facility with ten washers and dryers, and an afterschool program. The afterschool program provides programming for elementary school through high school aged children, as well as certain adult programming. The afterschool program is staffed and run by The Association of Village Pride, Inc., a local non-profit organization, with the costs of the program being shared between the AV Pride and the property. Construction Type Constructed in 1995, the property contains wood frame construction with a combination of vinyl siding and brick veneer. The roofs are pitched and consist of plywood decking with asphalt shingles. All HVAC systems, hot water heaters and kitchen appliances at the property are powered by electricity provided by the Coweta-Fayette EMC. Water and sewer services are provided by Peachtree City, and waste removal services are provided by Waste Management. Documents Aerial and Project Photographs Appraisal Environmental Peachtree ESA NXT QR Capital ESA Reliance Financing Documents Deed to Secure Debt Estoppel Loan Agreement Promissory Note Land Use Restrictions Limited Partmership Agreement PTC Parkway - First Amended and Restated Agreement PTC Parkway - Third Amended and Restated Agreement Physical Needs Assessment Peachtree PCA NXT QR Capital PCA Reliance Property Financial Information December 2011 Income Statement YTD Financials August 2011 Operating Statements Rent Roll 12-11 Rent Roll Rent Roll 9-30-11 Title Disclaimer: With the exception of certain recorded documents, all information contained and/or referred to herein was provided by the owner. DCA makes no representations or warranties regarding the accuracy of such information.
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