ATLANTA, GA – Viking Capital is proud to announce its acquisition of 23Thirty Cobb, a 222-unit apartment community in Smyrna, Georgia, in the Atlanta MSA. The property is located only one mile away from Truist Park, the home of the Atlanta Braves and was bought from institutional owners.
“With the acquisition of 23Thirty Cobb, Viking Capital adds another East Cobb/Smyrna asset to our portfolio,” said Viking Capital’s CEO, Vikram Raya. “Benefitting from its proximity to Atlanta’s Platinum Triangle/Galleria submarket and the I-75/I-285 interchange, East Cobb is one of Atlanta’s fastest growing and most accessible employment centers.”
Viking Capital plans to upgrade the property by renovating over 80% of the 222-unit interiors and updating the exteriors and amenities. Viking Capital has already begun plotting operational efficiencies such as the installation of smart thermostats, tracking/saving real time water consumption and other energy saving features.
“We approach every new deal with a focus on how we can elevate the experience of existing and future tenants,” said Raya. “Viking Capital will continue to prioritize our tenant base to increase the quality of their rental experience, with the expectation that meeting their needs will have a direct and positive impact on outcomes for members of the surrounding community, as well as our investing partners.”

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CHARLOTTE, NC – Greystar, in partnership with White Point, recently closed on 1714 South Boulevard in Charlotte’s South End neighborhood. The parcel of land is the future site of a 24-tale building with 324 apartment units and approximately 15,000 square feet of ground floor retail.
“South End has become one of the premier urban neighborhoods in the Southeast,” Josh Glover, Senior Director of Development, said. “We’ve been watching the maturation of the South End neighborhood for several years, and with the boom in office construction, job growth and high-end food and beverage options, we feel that there is an unmet need for high-rise residential options in the neighborhood. ”
The high-rise community will feature a variety of floorplans from microunits to three-bedrooms. The units will have high-end finishes including custom closets, elevated appliance and fixture packages, and custom details throughout the units. Additionally, the building will feature more than 20,000 square feet of amenity space so that residents can work, relax, exercise or delight in the Charlotte skyline from the rooftop.
The building will feature EV charging and has a high walkability score with access to public transit. Greystar is focused on minimizing onsite waste and maximizing indoor environmental quality through use of smart thermostats, lighting control strategies and safer materials.
The neighborhood’s past as a warehouse district will be at the forefront of the designer’s vision with a masonry exterior and oversized windows that are a nod to the past while still offering a unique take on South End’s future.
The plotted high rise is adjacent to Dilworth Artisan Station, an adaptive re-use project by White Point. Greystar and White Point have worked closely on the development of the residential project and are working to ensure the residential project and Dilworth Artisan Station are integrated closely to make a truly unique place at the heart of South End.
“The pieces are falling into place to make the most desirable mixed-use development at the best block in South End. We are very excited to partner with Greystar to add a high-rise, luxury apartment component to this corner,” says Jay Levell, co-founder of White Point.
“We are thrilled to be partnering with White Point on this transformational redevelopment project, and to work closely with them to bring new life to this key part of South End,” said Glover.
Greystar is working on a number of other projects in Charlotte, including a project in Lower South End (“LoSo”), a large two-phase project in University City, and a project in Indian Trail.
White Point has over $800 million of mixed-use projects in plotting or under development in Charlotte, Charleston, and Raleigh/Research Triangle Park.
Construction on the building is scheduled to start in December 2021 with an opening date target of January 2024.

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HOLLYWOOD, CA – Abbey Road and Linc Housing, both nonprofit developers of affordable and supportive housing, have partnered to build Sun Commons, a 103-unit large-family affordable and supportive housing development in the North Hollywood neighborhood of Los Angeles. Half of the new homes are for people who have experienced homelessness, and the other half are for low-income families and individuals. Onsite intensive case management and supportive services will be provided by Penny Lane, Abbey Road s nonprofit sister organization.
The real answer to homelessness is homes, said Los Angeles City Councilmember Paul Krekorian. This very vital project will not only provide housing, but provide ongoing services provided by Penny Lane that will really be transformative of lives. We re going to have a real community built here. A community of support, a community of empowerment, a community of positive change and hope.
The County of Los Angeles has also made affordable and supportive housing a priority. Rising rents are driving far too many people into homelessness, said Los Angeles County Supervisor Sheila Kuehl. Buildings like the Sun Commons mean that 103 households have the security of a roof over their head and the knowledge that they will never have to go because their landlord raised the rent beyond their means to pay it.
Sun Commons has funding support from Los Angeles County Development Authority (LACDA). The lack of affordable housing, coupled with the rise in homelessness, requires further investment to address this need, said Emilio Salas, LACDA executive director. For the past five years, the LACDA has funded over 6,000 units of affordable housing throughout Los Angeles County and will continue its investment in future housing developments like Sun Commons.
The new building, located at 6329 Clybourn Street in North Hollywood, will have 16 studios, 29 one-bedroom, 32 two-bedroom, and 26 three-bedroom units. Fifty-one apartments are for those who have been homeless, 50 are for families and individuals earning up to 30 to 60 percent of the Area Median Income (AMI), and two are for on-site property management. Community amenities will include many communal areas for residents, including two community rooms, multiple roof decks, a play area for children living onsite, and a community garden. The building will also have a gym, bicycle parking, and spaces for a wide range of social and supportive services. The location gives residents convenient access to schools, a park, a library, and a large-scale grocery store.
Sun Commons will have staff dedicated to providing on-site intensive case management, mental health and other services individually tailored to the needs of each family or individual. The goal is to help families and individuals improve the quality of their lives, feel safe and stable while allowing them to pursue life goals far beyond subsistence. The wide array of supportive services available include job placement, counseling, life skills training, transportation help, substance abuse counseling and treatment, and medical and dental help as well as referrals to community organizations that can fill in any service gaps.
We recognize that the success of any housing very much depends on having supportive services, said Bernie La Fianza, chief financial officer, Abbey Road. Penny Lane, through intensive case management, will give residents the tools they need to be successful. We re thrilled to partner with Linc, a well-known leader in the housing development space, in bringing new housing to this neighborhood.
Suny Lay Chang, president and COO for Linc Housing, adds, We were so excited when Abbey Road questioned us to partner on this new housing. Whenever we can take an underutilized parcel of land and turn it into much-needed housing, it s a win. Abbey Road and Penny Lane share Linc s vision to use housing as a way to revitalize neighborhoods, providing the foundation for communities to grow and prosper.
Funding for the development comes from a variety of sources including Proposition HHH Funds managed by the Housing + Community Investment Department of the City of Los Angeles (HCIDLA) and the Los Angeles County Development Authority (General and Measure H funds). Other sources include funds from California Housing & Community Development s Supportive Housing Multifamily Housing Program and Infill Infrastructure Grant Program, tax credit equity from the National Equity Fund, a permanent loan from California Community Reinvestment Corp., and a construction loan from Wells Fargo.
Sun Commons, which was designed to achieve LEED Gold Certification, will incorporate many sustainable and environmentally conscious features such as a solar thermal hot water system, drought tolerant landscaping, low-flow kitchen and bath fixtures, non-toxic paint and flooring, photovoltaic panels, and Energy Star rated fixtures and appliances.
The new community was designed by KFA Architecture and will be built by Bernards Builders. The development is due to be completed in 2022.

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