Wendover Housing Partners' Granite Crossing to Be the Cornerstone in the City of Lithonia's Revitalization Plan

LITHONIA, GA--(Marketwired - May 17, 2016) - Wendover Housing Partners, a privately held real estate development, investment and management company, today announces breaking ground on a new affordable, multi-family apartment community in Lithonia, GA, Granite Crossing. Located in the heart of the downtown Lithonia Plaza, construction on the 75-unit community is scheduled to begin in August 2016 -- the newest major construction in the city since 2009. With the first residents expected to move in during summer 2017, the new development is the cornerstone in the City's sustainable revitalization plan for transforming the downtown neighborhood.

"The addition of housing in the Lithonia Plaza will bring new families as well as complement the existing retail and help to foster new business growth and development in the city," said Lithonia Mayor Deborah A. Jackson. "After years of planning, Wendover's Granite Crossing is the first major step towards the City's goal of transforming the area."

In order to make way for construction of the approximately $14.7 million Granite Crossing community, crews have begun demolishing the former 80,000-square-foot city-owned building -- a location that has been vacant since 2009 and was recently accepted into the State Brownfield program. The environmentally challenged site was originally considered to be cost prohibitive, but City officials persevered in creating a remediation plan to replace the dilapidated building with a development that would stimulate economic growth for current merchants and drive additional business. Wendover joined in a complex partnership with the State of Georgia, Lithonia Downtown Development Authority (LDDA), the City of Lithonia and Bainbridge GP. LLC to bring this shared goal to fruition.

"I was drawn to this property after viewing the City's Blueprints Report from 2012, which details long-term plans to redevelop the plaza building," said President and Founder of Wendover Housing Partners, Jonathan L. Wolf. "In addition to adding another prestigious property to Wendover's collection of communities across the Southeast, Granite Crossing will bring to life a vision shared by countless government officials and Lithonia community members who seek to provide better, affordable housing options to attract new families and add to the city's social and economic fabric."

Granite Crossing will feature one, two and three-bedroom units with monthly rent ranging from $750 to $1,000. Community amenities will include a fitness area, computer lab and an activity room for after-school programming. Additionally, residents will be able to entertain their families on-site with an outdoor splash park and playground equipment.

For additional information about Wendover, visit www.wendovergroup.com.

About Wendover

Headquartered in Altamonte Springs, Wendover Housing Partners is a privately held real estate development, investment and management company specializing in the development of single and multi-family homes, apartments, senior communities, and TOD. www.wendovergroup.com.