Metropolitan Place

Just seven miles south of downtown Atlanta and in the Perkerson neighborhood, Paces Preservation Partner is leading development efforts for Metropolitan Place, which will offer a convenient, beautifully designed, and amenity-rich place to live. These 176 new apartment homes, to be completed in 2027, will feature the latest appliances and energy-efficient features along with an onsite fitness center, clubhouse, picnic area, and playground. Just next door is a new Atlanta Police Department precinct and Goodwill’s Metropolitan Parkway Career Center is just a few blocks away.

Financing is coming from a complex public–private package: permanent financing through Berkadia via Freddie Mac; construction financing by Chase Bank; equity from U.S. Bancorp Impact Finance using state and federal tax credits; additional funds from Invest Atlanta (including a $37.5 million tax-exempt loan and a $2.9 million Housing Opportunity Bond); and support from the Georgia Department of Community Affairs.

Of the 176 units, 144 are restricted for households earning around 60–80% of area median income, while 32 will be at market rate. The mix includes 50 one-bedroom, 86 two-bedroom, and 40 three-bedroom apartments. The cost is roughly $74.8 million.