Led by Invest Atlanta President and CEO Eloisa Klementich, housing and education leaders cut the ribbon at Springview Apartments Wed., Nov. 7. The paper-chain “ribbon” was made by students at nearby Cleveland Avenue ElementarySchool. Springview, an affordable housing community located off the Cleveland Avenue corridor, is undergoing extensive improvements, including the implementation of education and community programs.
“The Springview-Summerdale community represents a unique collaboration between the public, private and philanthropic sectors,” said Dr. Eloisa Klementich, President and CEO of Invest Atlanta. “This holistic approach will provide residents with high-quality housing, as well as critically important wrap-around services including after-school, summer camp and wellness programs. We are proud to be part of this partnership that will lift up the individuals and families who reside here, as well as help build stronger communities that provide greater opportunities for all Atlantans.”
Springview (and the neighboring Summerdale Apartments) were purchased this summer by TriStar, through its TriStar Community Impact Fund, with the support of Invest Atlanta and Atlanta Housing. The property received $1.5 million in funding from Invest Atlanta’s Housing Opportunity Bond program to renovate blighted units. The Atlanta Housing component is its HomeFlex Program, which is a project-based voucher program designed to provide affordable housing assistance to those living close to the poverty line. Its partnership will ensure long-term affordability at Summerdale and Springview.
The Springview/Summerdale Apartments endeavor is part of Mayor Bottoms’ larger goal of investing $1 billion from public and private sources to support affordable housing in Atlanta.
The 244-unit adjacent properties are situated off Cleveland Avenue in the City of Atlanta. The TriStar Community Impact Fund’s mission is to improve educational performance by reducing student transiency. It purchases apartments near high-need schools, stabilizing affordable housing communities by its mandate to keep rents affordable. The partner school in this effort is nearby Cleveland Avenue Elementary.
“Cleveland Avenue Elementary School provides a supportive learning environment which fosters intellectual, social-emotional, and creative growth in order to prepare every student for college and career,” says Dr. Anyeé D. Payne, the school’s principal. “After-school and other services provided by non-profits like Star-C can help our students have an even greater chance for success.”
Springview/Summerdale owner TriStar partners with Star-C, a non-profit education model with an affordable housing solution. Star-C programs assist economically disadvantaged families living in affordable housing communities by providing wraparound services ranging from after-school programs to healthcare. The apartment community’s owner contributes approximately 50 percent of the cost to operate Star-C programs; the remaining funds are sourced from foundations, donations and grants.
“We know that wrap-around supports and family stability are critical factors that impact student learning and life outcomes,” says Atlanta Public Schools Superintendent Dr. Maria Carstarphen. “Organizations such as Star-C can have a positive impact for students and the community, and I am appreciative of the efforts to support our APS families.”
In addition to Klementich, those on hand included Brandon Riddick-Seals, Interim CEO, Atlanta Housing; Tammie Workman, Assistant Superintendent, Student Services, Atlanta Public Schools; Duncan Gibbs and Marjy Stagmeier, Partners, TriStar Real Estate Investment; and a host of other community, housing and education leaders.
“Sometimes overlooked is the important connection between education and housing, and the critical impact that housing has on the educational achievement of our children,” says Audrea Rease, Executive Director, Star-C. “With quality, affordable housing, student transiency can be reduced, and students can have improved educational outcomes. We’re ready to continue building partnerships to deploy this solution to more communities and schools across Metro Atlanta and beyond in order to promote this synergy.”