NJCC Makes Equity Investment in Senior Affordable Property in Atlanta's Buckhead

NEW BRUNSWICK, N.J., July 22, 2025 /PRNewswire/ -- New Jersey Community Capital has announced a $1 million preferred equity investment in Buckhead Flats, an affordable senior living property in Atlanta's historic and affluent Buckhead neighborhood.

The fully renovated property offers studio, 1-bedroom, and 2-bedroom units and features amenities such as a fitness center, craft room, media center, and beauty and barber salon, as well as outdoor patio spaces and a dog park. Senior citizens began occupying the 74-unit complex in May. The property is the first senior affordable property in Buckhead. 20% of the units are classified as affordable.

Community Asset Preservation Corporation, a subsidiary of NJCC, invested in Buckhead Flats in partnership with AnneMarie Community Partners and Junica Development, both based in Baltimore. The project marks the entry of NJCC into the Atlanta market as part of its commitment to bringing strategic, socially responsible investments to urban centers nationwide.

"Buckhead Flats project exemplifies two of NJCC's primary objectives – investing in the creation of affordable housing and preserving properties through renovation and repurposing," NJCC President and CEO Bernel Hall said. "That it provides the opportunity for our entry into the City of Atlanta and the state of Georgia as a whole, makes the investment even more significant."

"Buckhead Flats is the first market-rate conversion to mixed-income / affordable housing project to be done in Buckhead, which is the most affluent neighborhood in Atlanta. It benefits seniors and non-seniors with special needs who desire a quiet, safe, secure building in a historic location," Junica Development Chair Larry Jennings said. Jennings also participated in the founding of AnnMarie Community Partners.

About New Jersey Community Capital

New Jersey Community Capital is a nonprofit community development financial institution dedicated to advancing opportunity through strategic investments and knowledge-based programs. It finances and supports individuals, businesses, educational organizations, and communities; preserves and develops affordable housing, community facilities and educational organizations; and creates sustainable economic development that generates quality jobs, improves education, and strengthens neighborhoods to ensure that communities can thrive. Founded in 1987, NJCC has grown to serve as a critical architect of community development initiatives, driving economic stability and wealth generation in overlooked areas.

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SOURCE New Jersey Community Capital