A restoration project on the historic Winnwood Apartment property in Midtown Atlanta began recently and is being executed through a partnership between GBX Group LLC, a real estate investment firm; Urban Landings, the project’s developer; and Easements Atlanta, a preservation organization.
Located at 1460 W Peachtree Street, this 90 year old Winnwood Apartment is currently one of the last of its kind with an early-to-mid-20th century architectural style in Atlanta. In 2021, Urban Landings was able to get the property listed on the National Register of Historic Places, which provided financial support for the project in the form of historic tax credits. In addition, the project also became eligible for other additional tax incentives, after the partner group donated a facade easement to Easements Atlanta. The facade easement donation was welcomed warmly by Easements Atlanta and this action has also provided permanent protection for the exterior design of the property.
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Winnwood Apartments to offer 50 micro & one-bedroom units on completion
After renovations on the two-story brick Georgian Revival-style Winnwood Apartment building are completed, it will house up to 50 micro and one-bedroom units, equipped with modern amenities. Besides restoring the historic building, the project also involves the inclusion of affordable housing to the property. According to the Urban Landings Chief Operating Officer, Cameron Pimm, the project doesn’t only fit into the company’s vision of rejuvenating well-located and undervalued assets, but it also offers quality affordable housing for the ever-expanding workforce. Pimm pointed out that the preservation project had been financially feasible due to the historic tax incentives.
Ian Michael Rogers, President of Easements Atlanta, mentioned that the Winnwood Apartment was one of such properties that provides a deep connection to the city’s history. Rogers also stated that preservation easements are the most important tools available, which are capable of ensuring that the architectural, historic and cultural resources of Atlanta are protected for future generations to access. He added, “We’re thrilled to be partnering with Urban Landings, GBX Group, the Atlanta Preservation Center and other partners to ensure the perpetual stewardship of this significant property.”
