1890 ADAMS HOUSE a 328-Unit Multifamily Asset | Atlanta, Georgia 1890 House: 176 Units, Adams House: 152 Units 2 1890 ADAMS HOUSE 1890 ADAMS HOUSE 3

1890 ADAMS HOUSE A 328-Unit Multifamily Asset | Atlanta, Georgia 1890 House: 176 Units, Adams House: 152 Units 2 1890 ADAMS HOUSE 1890 ADAMS HOUSE 3

CONFIDENTIALITY & CONDITIONS CONTACTS CONTENTS

All materials and information received verified by the party including by obtaining BARDEN BROWN CORY CAROLINE SAMS EXECUTIVE SUMMARY �� 6 FINANCIAL ANALYSIS �� 38 or derived from Greystone Real Estate and reading applicable documents Managing Director Director Investment Highlights Investment Highlights Advisors its directors, officers, agents, and reports and consulting appropriate Multifamily Investment Sales Multifamily Investment Sales advisors, affiliates and /or any third independent professionals. Greystone 678.894.2221 678.894.2220 Local Map and Aerial Unit Mix party sources are provided without Real Estate Advisors makes no warranties [email protected] [email protected] Operations Analysis and Pro Forma representation or warranty as to and/or representations regarding the PROPERTY DESCRIPTION �� 18 completeness, veracity, or accuracy, veracity, completeness, or relevance Pro Forma Assumptions condition of the property, compliance of any financial data or assumptions. BO BROWN Structural Details or lack of compliance with applicable President / CEO Collections Summary Greystone Real Estate Advisors does not Amenities and Features governmental requirements, developability service as a financial advisor to any party Greystone Brown REA Five-Year Discounted Cash Flow Analysis or suitability, financial performance of the regarding any proposed transaction. All 678.894.2216 Low Aerial property, projected financial performance data and assumptions regarding financial and Proposed Financing [email protected] Tax Parcel Map of the property for any party’s intended use performance, including that used for Sales Comparables or any and all other matters. financial modeling purposes, may differ from actual data or performance. Any AREA OVERVIEW �� 28 Neither Greystone Real Estate Advisors RENTAL MARKET �� 50 estimates of market rents and /or projected South Atlanta Overview its directors, officers, agents, advisors, rents that may be provided to a party do Atlanta Rental Market Summary or affiliates makes any representation not necessarily mean that rents can be Aerials and Map or warranty, express or implied, as to established at or increased to that level. Rent Comparables Map and Profiles accuracy or completeness of any materials Parties must evaluate any applicable Major Employment Centers or information provided, derived, or Rent Comparables Ranking contractual and governmental limitations as New Economic Developments received. Materials and information from well as market conditions, vacancy factors any source, whether written or verbal, and other issues in order to determine rents that may be furnished for review are not from or for the property. a substitute for a party’s active conduct of its own due diligence to determine these Legal questions should be discussed by and other matters of significance to such the party with an attorney. Tax questions party. Greystone Real Estate Advisors will should be discussed by the party with a not investigate or verify any such matters certified public accountant or tax attorney. or conduct due diligence for a party unless Title questions should be discussed by otherwise agreed in writing. the party with a title officer or attorney. Questions regarding the condition of EACH PARTY SHALL CONDUCT ITS OWN the property and whether the property INDEPENDENT INVESTIGATION AND DUE complies with applicable governmental GREYSTONE BROWN REAL ESTATE ADVISORS Copyright ©2019 Greystone & Co., Inc. All rights Reserved. Although the information contained herein has been obtained from sources deemed reliable, Greystone Brown Real DILIGENCE. requirements should be discussed by Estate Advisors makes no express or implied guaranty, warranty, or representation that the information is complete or accurate. Further, any projections, opinions, assumptions, the party with appropriate engineers, 1303 Hightower Trail, Suite 205 or estimates used or offered herein are for the purpose of example only and do not and cannot be deemed to represent the present or future performance of the subject Any party contemplating or under contract architects, contractors, other consultants Atlanta, GA 30350 property. Accordingly, Greystone Brown Real Estate Advisors recommends that you conduct your own investigation of the property in order to reach your own conclusions or or in escrow for a transaction is urged and governmental agencies. to verify all information and to conduct O | 770.594.1915 opinions as to value of the property. Physical condition of the property, including without limitation the potential presence of mold, asbestos, lead based paint, and hazardous their own inspections and investigations All properties and services are marketed F | 770.594.7065 materials may affect the property, its value, and may, if present, pose health risks. The property should be independently examined by experts selected by you. Any recipient of including through appropriate third party by Greystone Real Estate Advisors in these materials from Greystone Brown Real Estate Advisors should not and may not rely on these materials for any purpose beyond general introductory information concerning independent professionals selected by compliance with all applicable fair housing www.brownra.com the property. such party. All financial data should be and equal opportunity laws. 4 1890 ADAMS HOUSE 1890 ADAMS HOUSE 5

PROPERTY VISITS Prospective buyers will have the opportunity to visit the property via prescheduled property tours. These tours will include access to a sampling of available units and limited access to property personnel. In order to accommodate the ongoing operations, property visitation will require at least 48 hours notice. No property tours will be allowed without a scheduled appointment and prospective purchasers may not visit the property or contact the property, staff, and tenants without being accompanied by a representative from Greystone Brown Real Estate Advisors.

BID DEADLINE AND OFFER SUBMISSION The bid deadline will be announced shortly. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of Purchaser’s offer including, but no limited to: (1) asset pricing, (2) due diligence and closing time frame, (3) earnest money deposit, (4) a description of the debt / equity structure, (5) an explanation of capital sources, (6) any contingencies that may exist and (7) specific explanation of who should pay closing costs. EXECUTIVE SUMMARY 8 1890 ADAMS HOUSE

INVESTMENT SUMMARY

Year Built: 1969 Number of Units: 328 Average Unit Size (SF): 859 Total Rentable SF: 281,910 # of Residential Buildings: 16 Number of Stories: 2 Acreage: 11.5 Units Per Acre: 28.52 Physical Occupancy: 99% Map 2 - Shamrock Gardens

Central Atlanta Metro Area 4 Austell 1. Six Flags theme park 2. Fulton County Airport 2 Midtown 3 3. Georgia Tech Decatur 1 4. Emory University, Emory ATLANTA University Hospital, CDC HQ CBD 5. Fort McPherson redevelopment site; Tyler Perry Studios DISTRICT FULTON INDUSTRIAL expansion 6. Lakewood Screen Gems Studio

1890 ADAMS 7. Camp Creek MarketPlace HOUSE 8. Camp Creek Business Center

5 6 9. Majestic Airport Center IV (Walmart distribution center) East Point 10.Majestic Airport Center II (600 acres) 18 11.Planned “Airport City” mixed- use development College Park Hapeville 12.Georgia International 7 Convention Center 11 13 14 15 13.Delta Airlines HQ 8 12 Hartsfield-Jackson 14.FedEx air cargo hub 9 International 15.Porsche North America HQ 10 Airport 16 17 16.Georgia State Farmers Market Forest Park 17.Fort Gillem redevelopment (major distribution centers)

0 mi 2 4 6 8 18.Greenbriar Mall Copyright © and (P) 1988–2012 Microsoft Corporation and/or its suppliers. All rights reserved. http://www.microsoft.com/mappoint/ Certain mapping and direction data © 2012 NAVTEQ. All rights reserved. The Data for areas of Canada includes information taken with permission from Canadian authorities, including: © Her Majesty the Queen in Right of Canada, © Queen's Printer for Ontario. NAVTEQ and NAVTEQ ON BOARD are trademarks of NAVTEQ. © 2012 Tele Atlas North America, Inc. All rights reserved. Tele Atlas and Tele Atlas North America are trademarks of Tele Atlas, Inc. © 2012 by Applied Geographic Solutions. All rights reserved. Portions © Copyright 2012 by Woodall Publications Corp. All rights reserved. 18901890 House House / Adams / Adams House House EXECUTIVE SUMMARY 9 propertyproperty overview overview

PROPERTYGeneral SUMMARYGeneral Information Information INVESTMENT HIGHLIGHTSFinancialFinancial Summar Summary y

Property:Property: 18901890 House House / Adams / Adams House House SensitivitySensitivity Analysis Analysis T-3T-3 Inc. Inc. / / CapCap Rate Rate ValueValue PerPer Unit Unit Address:Address: 1890 1890 Myrtle Myrtle / 1895 / 1895 Plaza Plaza / 2280 / 2280 Campbellton Campbellton ProformaProforma Exp. Exp. Atlanta,Atlanta, GA GA30311 30311 5.40%5.40% $1,194,257$1,194,257 $22,115,876$22,115,876 $67,426$67,426 5.60%5.60% $1,194,257$1,194,257 $21,326,023$21,326,023 $65,018$65,018 YearYear Built: Built: 19691969 5.80%5.80% $1,194,257$1,194,257 $20,590,643$20,590,643 $62,776$62,776 NumberNumber of Units: of Units: 328328 6.00%6.00% $1,194,257$1,194,257 $19,904,288$19,904,288 $60,684$60,684 AverageAverage Sq. Sq. Ft.: Ft.: 859859 RentableRentable Sq. Sq. Ft. Ft. 281,910281,910 SensitivitySensitivity Analysis Analysis CapCap Rate RateProformaProforma NOI NOI Value Value PerPer Unit Unit Acreage:Acreage: 11.511.5 6.00%6.00% $1,538,317$1,538,317 $25,638,614$25,638,614 $78,167$78,167 UnitsUnits / Acre: / Acre: 28.5228.52 6.25%6.25% $1,538,317$1,538,317 $24,613,069$24,613,069 $75,040$75,040 NumberNumber of Buildings of Buildings 9 9 6.50%6.50% $1,538,317$1,538,317 $23,666,413$23,666,413 $72,154$72,154 Zoning:Zoning: RG3RG3 6.75%6.75% $1,538,317$1,538,317 $22,789,879$22,789,879 $69,481$69,481

PhysicalPhysical Occupancy Occupancy (June (June 2019) 2019) 99%99% EconomicEconomic Occupancy Occupancy (May (May 2019) 2019) 92.8%92.8% ProformaProforma Net Net Operating Operating Income Income $1,538,317$1,538,317 AverageAverage Monthly Monthly Collection Collection $243,082$243,082 CurrentCurrent Expenses Expenses $1,713,821$1,713,821($5,225($5,225 / Unit) / Unit) LossLoss to Lease to Lease Burnoff Burnoff NOI NOI $1,465,922$1,465,922 ProformaProforma Expenses Expenses $1,721,808$1,721,808($5,249($5,249 / Unit) / Unit) T-3T-3 Income Income / Pro / Proformaforma Tax Tax Adjusted Adjusted Expenses Expenses Annualized Annualized NOI NOI $1,19 $1,194,2574,257 AgencyAgency Debt Debt Assumptions Assumptions InterestInterest Rate Rate 75.00%75.00% T-3T-3 Income Income / T-12 / T-12 Expenses Expenses Annualized Annualized NOI NOI $1,191,603$1,191,603 AmortizationAmortization 4.40%4.40% InterestInterest Only Only 30 30 T-6T-6 Income Income / T-12 / T-12 Expenses Expenses Annnualized Annnualized NOI NOI $1,203$1,203,162,162 GuaranteeGuarantee Non-RecourseNon-Recourse GreenGreen Loan Loan Eligible Eligible Yes*Yes* *No Water*No Water or Energy-Saving or Energy-Saving Devices Devices Have Have Been Been Installed Installed 10 1890 ADAMS HOUSE

HIGHLIGHTS • 1890 Adams House is a desirably-sized property consisting of 328 units, which provides economies of scale for operations. • The subject was acquired in two phases. The 1890 House phase consists of 176 and the Adams House phase consists of 152 units. • Property lacks 0.8 low flow toilets and LED exterior building lighting package; their installation would help facilitate “green financing” • The all-brick garden-style asset features pitched roofs and six distinct one- and two-bedroom floorplans. • Highly sought-after asset consistently occupied at 99%, with the opportunity to raise rents. • Rents in the immediate submarket have increased 6% in the last two years. • Opportunity to steadily burn off loss-to-lease and significantly boost collections by $280,000+. • The asset is offered at an attractive price per unit compared to recent sales comparables. • Close to new Tyler Perry Studios, Fort McPherson redevelopment site, MARTA rail line, and Smart Transit Corridor. • Quick access to the I-75/I-85 Connector, Hartsfield Airport, the downtown business district, Georgia State University, and the Atlanta University Center.

HIGHLY DESIRABLE BRICK ASSET IN TURNKEY CONDITION •• 1890 Adams House is a well-maintained garden-style asset featuring 328 units with one- and two-bedroom floorplans, which average 859 square feet. •• The subject, which was built in 1969, offers good architectural bones with low-maintenance brick exteriors, pitched roofs with composition shingles, exterior entryways, individual water heaters installed in 2010, and copper wiring. EXECUTIVE SUMMARY 11 12 1890 ADAMS HOUSE

LOSS TO LEASE BURNOFF RESULTS IN 1 BR AVERAGE1 Bedroom Avg ON In-Place RR VS. vs Recent RECENT Leases LEASES SUBSTANTIAL UPSIDE $750 •• As the rental market has improved, owners have $700 gained traction in increasing lease rates. $57 $40 •• By “rolling through the rent roll,” a new owner will $650 be able to bringing old leases up to current lease $72 rates resulting in a monthly collections increase $600 of thousands of dollars. $550 •• New leases average $40 to $72 over older leases in one-bedroom units. Two-bedroom new leases $500 average $60 to $90 over older leases. $576 $648 $648 $705 $638 $678 $450 •• See chart on the right. 1BR/1BA 1BR/1BA 1BR/1BA 700 SF 800 SF 875 SF

Avg In-Place Recent Leases

2 Bedroom Avg In-Place vs Recent Leases 2 BR AVERAGE ON RR VS. RECENT LEASES

$800 $91

$750

$59 $64

$700

$650 $668 $727 $664 $728 $694 $785 $600 2BR/1BA 2BR/1BA 2BR/1BA 875 SF 920 SF 925 SF

Avg In-Place Recent Leases EXECUTIVE SUMMARY 13

ADDITIONAL REVENUE ANTICIPATED FROM EXPIRING LEASES •• The chart below provides a month-by-month view of projected future revenue increases. For example, the difference between expiring leases and current market rates in September is $3,091, and cumulatively $7,475. •• By April 2020, this will equal an increase of over $23,339 per month which is over $280,000 in annual collections for a new owner.

Additional Revenue Anticipated From Expiring $18,000 $280,066 ADDITIONAL ANNUAL REVENUE ($23,339 IN MONTHLY INCOME) $643 $692 $16,000 $1,503

$14,000 $2,317

$12,000 $2,431

$10,000 $1,516

$8,000 $780 $3,091

Additional Monthly Income $6,000 ADDITIONAL MONTHLY INCOME MONTHLY ADDITIONAL $4,000 $2,507

$2,000 $458 $1,419 $0 Jun '19 Jul '19 Aug '19 Sep '19 Oct '19 Nov '19 Dec '19 Jan '20 Feb '20 Mar '20 Apr '20 14 1890 ADAMS HOUSE

MARKET SUPPORTED ORGANIC RENT INCREASE HISTORICAL OCCUPANCY CHART •• According to MPF Research, rents in the South 100.50% Atlanta submarket have increased 6% in the last two years. Rents are projected to continue 99.98% 99.98% 99.99% 99.99% 99.98% climbing while they are still affordable, and the 100.00% economy improves. 99.82% •• A new owner has the market support to increase rents organically. The asset has been successfully 99.50% achieveing market rents while remaining at a high occupancy.

•• As an affordable provider to the submarket, the 99.00% property will be easily able to close this rental gap and push rents. •• As shown in the chart on the right, similar vintage 98.50% comparables are achieving $25 to $125 per month in higher rents. 98.00% Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19

2 BR ORGANIC2 BR Rent RENTComparison COMPARABLES $1,000

$950 $920 $925 $900 $879 $850 $850 $840 $809 $800 $767 $750

$700 $664 $650

$600 Subject Subject Centa Villa Shamrock The Park at Cascade Glen Westwood Crystal at Average on Market Rent 1,006 SF Gardens Greenbriar (Reno) Glen (Reno) Cascade RR 920 SF 1,080 SF (Partial Reno) 1,093 SF 730 SF (Reno) 920 SF 940 SF 950 SF EXECUTIVE SUMMARY 15

INTERIOR VALUE ADD OPPORTUNITY 1 BR Renovated Rent Comparison •• Rent comparables in the local market have done mid- 1 BR RENOVATED RENT COMPARABLES $900 level upgrades and are receiving a premium. $875 $869 •• A new owner has the opportunity to uprade interiors $850 by adding black appliances, wood-look vinyl floors and $800 painting cabinets. $770

•• The local comparables prove the ability to upgrade $750 $730 interiors and push rents $65, while remaining on the $705 low end of the rent spectrum. $700 $648 •• Select units in each phase (6 units in Adams House; $650 5 units in 1890 House) have washer/dryer connections. A new owner has the opportunity to add washer/dryer $600

connections in the remaining units. $550 Average on RR Market Rent Park at Proposed Cascade Glen Westwood Glen 800 SF 800 SF Greenbriar (Reno) 840 SF (Reno) 730 SF (Reno) 700 SF (Partial 800 SF Reno)

2 BR RENOVATED2 BR Reno RENT Rent COMPARABLESComparison

$1,000 $979

$950 $920 $900 $860 $850 $832

$800 $767 $750

$700 $664 $650

$600

$550 CRYSTAL AT CASCADE RENOVATED KITCHEN Average on RR Market Rent Proposed Park at Westwood Cascade Glen 920 SF 920 SF (Reno) Greenbriar Glen 1,093 SF 920 SF 1,060 SF 730 SF (Reno) (Reno) (Partial Reno) 16 1890 ADAMS HOUSE

LOCAL AERIAL WITH ECONOMIC HIGHLIGHTS

Atlanta

Oakland City M Sylvan MARTA Rail Nabisco Hills Plant Middle School

Fort McPherson VA Clinic Alfred “Tup” Local Holmes Redevelopment Golf Course Area

Library Tyler CAMPBELLTON ROAD SW (9,700 VEHICLES PER DAY) YMCA Perry Studios

US 29 / LEE ST. (18,000 VEHICLES PER DAY)

1890 ADAMS Lakewood/ HOUSE M Fort McPherson FR MARTA Rail OD EEW GA 166 / LA O A NG W Y FO E RD K ( PA LA 62,0 RKWAY / 00 VEHICLES P ER DAY)

East Point N EXECUTIVE SUMMARY 17

CAMPBELLTON ROAD’S SMART TRANSIT CORRIDOR REDEVELOPMENT OF PORTION OF FORT MCPHERSON •• Campbellton Road will become a Smart Transit Corridor. It is •• The redevelopment of Fort McPherson is expected to roll out part of an infrastructure improvement initiative called Renew a new master plan for the future redevelopment of a 145-acre Atlanta. portion of the decommissioned U.S. Army military base. •• Part of the initiative will include technology that will give signal •• The first phase will include 1.2M SF, valued at $240M of the prioritization to buses operated by MARTA at 23 intersections total estimated $700M build-out of the project. There are also along Campbellton Road from the Oakland City MARTA station plans for restaurants, retail, more than 2,000 housing units, to I-285. The area includes landmarks like Tyler Perry Studios, and a 200K SF office building. Sylvan Oakland City MARTA Rail Station and the Greenbriar Mall. The Hills •• There will be four districts of the redevelopment: the Town technology will also be used for emergency vehicles to improve Middle Center/Destination District (live/work/play), the Office District School safety and response time for the fire department. (focused on the Tech, Music and Video Game industries), the •• The $23.7 million Campbellton Road Smart Transit Corridor Historic District (center for entertainment, history, and the arts), project — which includes the smart corridor technology and the Park District (open to the public, and an amenity for improvements and the bus-rapid-transit planning — is set to be residents). complete by December 2021. •• This will be a national model of sustainable, transit-oriented and mixed-use development, focused on education, job creation and training, affordable housing and healthy living. PROPERTY SUMMARY 20 1890 ADAMS HOUSE PROPERTY SUMMARY 21

PROPERTY DETAILS UNIT MIX Year Built: 1969 Unit Type # of Units Size (SF) Number of Units: 328 1 BR / 1 BA Garden 48 700 Average Square Feet: 859 SF 1 BR / 1 BA Garden 32 800 Total Square Feet: 281,910 SF 1 BR / 1 BA Garden 81 875 Site Size/Density: 11.5 Acres / 28.52 Units per Acre 2 BR / 1 BA Garden 48 875

1890 House: 1890 Myrtle Drive and 1895 Plaza, Atlanta, GA 30311 2 BR / 1 BA Garden 48 920 Address: Adams House: 2280 Campbellton Road SW, Atlanta, GA 30311 2 BR / 1 BA Garden 71 925

Parking: Ample open spaces Average / Totals 328 843

1890 House: Two points of ingress/egress to Myrtle Drive and Plaza Lane Access: Adams House: Two points of ingress/egress to Campbellton Road

1890 House: 8 residential buildings Number of Buildings: UNIT COUNT SUMMARY Adams House: 8 residential buildings One-Bedroom Units 161 Roof: Pitched roofs with asphalt shingles Two-Bedroom Units 167 Ceiling Height: 8-foot ceilings with smooth ceiling finish in most units

W/D Connections: Select units have washer/dryer connections (11 units only).

Foundation: A mix of crawl spaces, full basements and concrete slabs.

All buildings have wood frame construction with brick siding and wood Exterior Materials: accents. Upper units feature front and back entry and are accessed by exterior 1 BR 49% Breezeways: metal stairs in front and back of buildings. 2 BR 51% Units have outdoor space on concrete stoops (lower) and metal staircase Patio/Balcony: landings (upper).

Gas and electric; heat, hot water and cooking are a mix of gas and Electric/Gas: electric depending on the building.

Plumbing: Hot water - PEX; supply lines - copper; waste lines - cast iron

Wiring: Copper 22 1890 ADAMS HOUSE

LOCAL AERIAL

Alfred “Tup” Holmes Golf Course Campbellton Library Plaza

CAMPBELLTON RD. (9,410 VEHICLES PER DAY)

YMCA

Baptist MYRTLE DRIVE SW Towers

PLAZA LANE SW Adams House 1890

DELOWE DRIVE (12,600VEHICLES PER DAY)

ER DAY) ES P ICL EH 0 V 90 3, (6 . Y

W K P

D R O F

G N A L / 6 6 1 N GA 154 / GA PROPERTY SUMMARY 23

AMENITIES AND FEATURES

COMMUNITY AMENITIES UNIT FEATURES ■■ Leasing Office ■■ Fully-equipped Kitchen ■■ Laundry Centers (3 at each phase; 6 total) ■■ Frost-free Refrigerator ■■ Fenced Community Green Area ■■ Fire Stops on all Vent Hoods ■■ Mature Landscaping ■■ Separate Dining Area* ■■ Mail Kiosks ■■ Washer/Dryer Connections* ■■ Bus Stop at Entrance ■■ Faux Wood Vinyl Flooring ■■ Immediately Adjoins YMCA ■■ Spacious Closet(s) ■■ Faces Public Golf Course, Library, and ■■ Ceiling Fan(s)* Adams Park (pool, tennis, baseball, etc.) ■■ Window Blinds * In select units 24 1890 ADAMS HOUSE PROPERTY SUMMARY 25 26 1890 ADAMS HOUSE

LOW AERIAL

Alfred “Tup” Holmes Golf Course

Library

CAMPBELLTON ROAD

YMCA

MYRTLE DRIVE SW

PLAZA LANE SW

DELOWE DRIVE (12,600VEHICLES PER DAY)

Adams House

1890

N PROPERTY SUMMARY 27

TAX PARCEL DIAGRAM

Adams House 1890

Source: Fulton County, Georgia tax assessor’s website DOWNTOWN ATLANTA 215,000 VEHICLES/DAY

Grant Park

Zoo Atlanta

139,000 VEHICLES/DAY

Atlanta Fort McPherson Tech 1890 ADAMS Redevelopment 297,000 VEHICLES/DAY HOUSE CAMPBELLTON RD. SW (9,700 V.P.D.) US 23 / MORELAND AVE. (31,500 VEHICLES/DAY) (31,500 AVE. MORELAND / 23 US Tyler Perry Studio Lakewood Expansion Screen Gems Studio

00 V ,0 .P 62 .D ( .) US 29 / LEE ST. (18,000 VEHICLES PER DAY) HWY. 166/LANGFORD . P K W Y AREA OVERVIEW Greenbriar Mall

Tyler Perry EAST POINT N Original Studios 30 1890 ADAMS HOUSE Atlanta ATLANTA METROPOLITAN AREA

Stone Austell L A Clarkston Mountain I R Emory Park T S & CDC U D Fulton Co. IN N Airport GA TO Midtown L FU Tech Decatur Six Flags Atlanta CBD

1890 ADAMS HOUSE Lithonia

Fulton Industrial District Fort McPherson Mall at East Point Stonecrest

College Park Hapeville Hartsfield- Jackson Atlanta International Forest Park Airport Fort Gillem

Union City Morrow Riverdale Southlake Mall Fairburn

Stockbridge Jonesboro

0 mi 2 4 6 8 10 12 Copyright © and (P) 1988–2012 Microsoft Corporation and/or its suppliers. All rights reserved. http://www.microsoft.com/mappoint/ Certain mapping and direction data © 2012 NAVTEQ. All rights reserved. The Data for areas of Canada includes information taken with permission from Canadian authorities, including: © Her Majesty the Queen in Right of Canada, © Queen's Printer for Ontario. NAVTEQ and NAVTEQ ON BOARD are trademarks of NAVTEQ. © 2012 Tele Atlas North America, Inc. All rights reserved. Tele Atlas and Tele Atlas North America are trademarks of Tele Atlas, Inc. © 2012 by Applied Geographic Solutions. All rights reserved. Portions © Copyright 2012 by Woodall Publications Corp. All rights reserved. AREA OVERVIEW 31

CAMP CREEK, FORT McPHERSON, AND AIRPORT AREA

L A I R M T S U CASCADE ROAD ATLANTA D IN N TO L FU

CASCADE AVE.FORT McPHERSON M 1890 ADAMS HOUSE Atlanta Tech Tyler Screen Perry Gems / Studios Lakewood

RD. FAIRBURN

M Studios

LANGFORD PKWY.

CAMP CREEK PKWY. CREEK CAMP C AMPB East Point EL LT Industrial ON EAST POINT ROAD Park Greenbriar Mall

M Piedmont Driving Club Golf Course CAMP CREEK MARKETPLACE COLLEGE PARK CAMP CREEK PKWY. HAPEVILLE Delta

Planned U.S. 29 / LEE STREET Airlines Airport City HQ FedEx Aerotropolis / M-U Development Hub Porsche Southmeadow M Camp N.A. HQ Industrial Georgia Creek International Hartsfield-Jackson Park Business Convention Atlanta International Center M Center Airport N M MARTA Rail Station 32 1890 ADAMS HOUSE

ATLANTA’S DYNAMIC SOUTH SIDE airport (104 million passengers in 2016). More than 64,000 people are employed by various entities on its 4,700-acre campus, 1890 Adams House is making it Georgia’s largest employment hub. Its annual economic located in the northern impact in 2014 was estimated at $64 billion. “Hartsfield” recently part of Fulton County, completed a $9 billion expansion of its passenger and cargo five miles southwest capacity. This five-year project added a $1.5 billion international of Atlanta’s downtown terminal, North America’s tallest control tower, and a 9,000-foot CBD. The metro’s south fifth runway, among many other upgrades. A new $6 billion master side, mainly comprised plan calls for a sixth runway, new parking decks, and new or reno- of south Fulton County vated terminals and concourses. and north Clayton County, is economically Delta Airlines is headquartered near the airport, its primary hub, focused on Hartsfield- Downtown Atlanta viewed from south and employs 30,000+ Atlantans. In 2008, the merger of Delta with Jackson Atlanta Northwest created the one of the world’s largest airlines. Other International Airport, the world’s busiest passenger hub, and the prominent employers near the airport include a major FedEx extensive airport-centered network of industrial, service, and dis- air cargo hub, Wells Fargo’s Operations Center, the Georgia tribution facilities that benefit from the area’s excellent air, rail, and International Convention Center, and large facilities for Sysco highway freight services. Food Services and Coca-Cola Bottling. Interstates 20, 75, 85, 285, and 675 traverse the south side, providing access to the airport as well as direct routes north to Atlanta’s Central Business District and to other major employment hubs throughout the metro area. U.S. 19 and Georgia highways 54, 85, 138 and 331 are other prominent arteries. Other southside economic drivers include the 1.2 million SF Camp Creek Marketplace lifestyle center, Porsche North America’s headquarters, Southern Regional Medical Center, Chick-fil-A headquarters, Clayton State University, Southlake Mall, and the district’s numerous industrial parks, especially the massive industrial/ warehouse zones near the airport and all along Fulton Industrial Hartsfield Airport and adjacent industrial parks Boulevard. Significant future employment will be generated by the “Aerotropolis” business park and redevelopment of two closed INDUSTRIAL POWERHOUSE army bases, Fort McPherson and Fort Gillem. The large number of industrial and commercial parks located near the airport and/or interstates are major economic drivers for the HARTSFIELD-JACKSON ATLANTA INTERNATIONAL AIRPORT south side. The northern part of Clayton County is dominated by Hartsfield- In south Fulton County near Hartsfield Airport, Majestic Airport Jackson Atlanta International, the world’s busiest passenger Center II is a 600-acre industrial park that houses major AREA OVERVIEW 33 distribution centers for Costco, Kellogg’s, General Electric, Newell features extensive con- Rubbermaid, Del Monte, and Caterpillar. The nearby Majestic ference and event space, Airport Center IV is anchored by a 1.2 million SF Walmart distribu- a classic car gallery, res- tion center. toration center, fine-din- In southwest Fulton County, the Fulton Industrial District is the ing restaurant, retail, largest industrial corridor in the eastern United States. Stretching and a $2 million Porsche for nine miles along Fulton Industrial Boulevard near Interstate 20, Experience Center with the district boasts 48 million SF of warehouse space, 522 industrial test tracks and a simula- buildings, 20,000 workers and close to $1 billion in payroll. First tor. A $52 million four- developed in the 1960s, this area attracts industry due to its ease star hotel is now rising of access and close proximity to I-20, I-285, downtown Atlanta, adjacent to Porsche. two intermodal rail yards, and Hartsfield Airport’s cargo facili- The “Aerotropolis” dis- ties. The district was boosted by the 2012 creation of the Fulton trict name has evolved Industrial CID, which has improved its infrastructure, appearance, and is sometimes used signage and security. to designate the entire In Clayton County, two of the largest providers of industrial/ware- area of dense develop- house/distribution space are Majestic Airport Center I (3.3 million ment and employment surrounding Hartsfield SF) and Morrow Industrial Park (2.5 million SF). Nine other major Aerotropolis site diagram business centers in north Clayton provide a further 6.5 million SF Airport. This includes the of industrial and warehouse space. All these industrial and distri- Georgia International bution operations, combined with numerous large trucking com- Convention Center (two minutes from the airport via “SkyTrain”), panies, provide considerable employment. Delta Airlines headquarters, Chick-fil-A headquarters, Wells Fargo’s Operations Center, the Gateway Center office complex, Recent industrial investment in Clayton includes construction and multiple hotels. of a $18 million state-of-the-art distribution center for retailer HHGregg and a $7 million sales and operations center for Briggs BOOMING CAMP CREEK PARKWAY Equipment. In 2000, south Fulton was boosted when North American “AEROTROPOLIS” Properties began development of a major lifestyle center and live-work-play zone on Camp Creek Parkway (50,100 vehicles per On the 130-acre site of the razed Ford assembly plant adjacent day) at I 285. Since then an estimated 1,400 acres of retail, hous- to the airport, a futuristic business park named “Aerotropolis” ing, office, and industrial have been developed in this area, for an is being created by Jacoby Development (creator of Atlanta’s investment of approximately $1 billion. admired Atlantic Station district). Jacoby’s mixed-use plan calls for office, retail, and a hotel. The development’s centerpiece is The Camp Creek Marketplace lifestyle center, which was opened the 27-acre headquarters campus of Porsche North America. The in large phases, was completed in 2005, and later supplemented $100 million complex, designed to welcome thousands of visitors, by satellite centers. This 1.2 million SF retail node has been the economic engine of South Fulton County’s renaissance, providing 34 1890 ADAMS HOUSE more than 2,000 jobs and $200 In 2014, redevelopment million in annual sales tax reve- was boosted by announce- nue. Prominent national anchors ments that supermarket include Target, BJ’s Wholesale giant Kroger would open a Club, Lowe’s, Publix, LA Fitness, 1,000,000+ SF distribution Ross, TJ Maxx, PetSmart, DSW center (now completed) Shoes, Staples, and Carmike that would employ up Cinemas. to 1,000, while national The surrounding developments logistics company ES3 LLC would open a 700,000 SF that have been built to comple- Distribution facilities, Gillem Logistics Center ment this include restaurants, facility that would create hotels, office and industrial parks, hundreds of jobs. While Kroger and ES3 will occupy approxi- luxury apartments, and single-fam- mately 2 million SF and create more than 1,000 jobs, local leaders ily subdivisions. Most notable hope that’s just the start. The Atlanta Journal Constitution reported is Duke Realty’s Camp Creek in 2014, “Fort Gillem redevelopers envision a 7 million SF logistics Business Center, a 3.5 million SF and manufacturing complex with 3,000 workers within the next park housing the FAA, Jaguar five to ten years.” Land Rover North America, ADT Security, Kuehne & Nagel, CEVA Transformation of Fort McPherson, which occupies 488 acres Logistics, and large distribution/logistics centers for Amazon, in Fulton County three miles north of Hartsfield, is handled by FedEx, and Dick’s Sporting Goods. the McPherson Implementing Local Redevelopment Authority (MILRA). Atlanta filmmaker Tyler Perry recently spent $30 million to PLANNED SOUTH ATLANTA REDEVELOPMENT purchase 330 acres of the base for further expansion of his nearby In recent years, the Defense Base Closure and Realignment film studios. Commission (BRAC) has recommended the closure of numer- Plans for the remaining acreage are still undetermined, but the ous military installations. In Atlanta, the ax fell on army bases Fort City of Atlanta is focused on job-generating, mixed-use propos- McPherson and Fort Gillem. Both sites are close to Hartsfield als. A section was redeveloped when the Veterans Administration Airport and provide hundreds of acres ideal for redevelopment. expanded by opening an additional VA Medical Center at Fort In 2012, the City of Forest Park spent $30 million to purchase McPherson in 2012. Ten acres (with existing structures) were 1,170 acres of Fort Gillem, situated three miles east of the airport. bought from the Army for $12.5 million and $47 million was The city is directing the site’s conversion to a business logistics invested in renovations. It is hoped that this VA facility will lure park for industrial facilities, manufacturing, and warehouses. As additional science and technology offices and labs to the remain- environmental remediation is required before the Army can trans- ing parts of Fort McPherson’s land. fer each section, it may take ten years to totally transform the base. The multi-government interaction required to create Hartsfield’s However, 3,000-4,000 eventual jobs are predicted for “Gillem massive fifth runway gave birth to a cross-jurisdictional plan- Logistics Center.” In 2014, the first 700 acres were transferred from ning initiative by Clayton and Fulton Counties and the City of the Army to the City of Forest Park. AREA OVERVIEW 35

College Park. Called the Southside Hartsfield Redevelopment and CLAYTON STATE UNIVERSITY Stabilization Plan, it focuses on the 3,400