GROWTH by NCRC and Riddle Property Group, LLC Plan New Construction Townhomes in Vine City

New Parkview Development to Provide Opportunities for Building Generational Wealth and Community Revitalization

Riddle Property Group, LLC, in partnership with The NCRC Housing  Rehab Fund, LLC (NCRC HRF), known as GROWTH by NCRC, signed a development agreement to build affordable new townhomes in Atlanta’s historic Vine City neighborhood. The Parkview development,  located across from the new Rodney Cook Sr. Park near the corners of Walnut St. NW and Thurmond St.  NW, will feature 62 townhomes ranging from 1,154-1,641 square feet.  

Just west of downtown Atlanta, Vine City is a historic community rooted in a strong local identity forged by a diverse and active African American community. During the early 20th century, the Vine City area was a  middle-class African American neighborhood. Many prominent Atlantans called Vine City home, including  Dr. Martin Luther King, Jr., Maynard Jackson, Julian Bond and Atlanta’s first Black millionaire, Alonzo  Herndon. In addition, Vine City is also known for its iconic institutions including Morehouse, Spelman, and  Morris Brown Colleges. In recent years, the neighborhood has been plagued by blight, substandard housing, crime, displacement and poverty.  

Parkview is a development committed to reclaiming the rich history of Vine City. The development is less than half a mile from the Vine City and Ashby MARTA stations and just steps away from the Westside  Beltline Connection. Its easy access to transportation helps support a key pillar of the Mayor’s One Atlanta agenda: safe, affordable and equitable options for mobility. Community assets and amenities include  Washington Park, the Georgia Aquarium, Centennial Park, State Farm Arena, Mercedes Benz Stadium,  Walmart and Publix. 

Developer Riddle Property Group, LLC (RPG) is an Atlanta-based, minority real estate owner, operator and developer. The real estate firm was awarded a $2 million Tax Allocation District (TAD) grant from Invest  Atlanta to renovate and construct 62 for-sale townhomes – 19 of which will be affordable. Additional funding from Invest Atlanta is available for down payment and closing cost assistance to buyers that meet income qualifications. 

“Parkview is a community-aligned residential real estate project in the heart of historic Vine City,” said  RPG’s CEO Jeff Riddle. “Parkview is committed to the Vine City neighborhood vision statement, which encourages developers to create a diverse and sustainable, multi-generational community with high-quality mixed housing that promotes homeownership. Parkview will accomplish this and more.” 

GROWTH by NCRC, a joint partner in the Parkview project, provides homeownership opportunities for low and moderate-income communities and people, with a focus on communities of color. In five years,  GROWTH has invested almost $125 million in almost 800 homes nationwide. GROWTH by NCRC also provides workforce development and housing counseling through local partnerships with community organizations in the areas they serve. 

“We are a mission-driven real estate fund helping to make homeownership possible for working-class and  BIPOC people across the country,” said Ed Gorman, Managing Director, NCRC Housing Rehab Fund. “We are honored to partner with the RPG and Invest Atlanta on the Parkview project. Working together we are focused on addressing decades of segregation and disinvestment, bringing affordable housing and community development throughout the area. Everyone deserves a fair shake at the American Dream of  homeownership.” 

Nearly 75% of Vine City is rental units with many units vacant and in desperate need of renovations.  Together GROWTH, RPG and Invest Atlanta are working to create pathways to capital essential for neighborhood investment, revitalization, renovations and new home construction. Decades of neglect and a history of segregation and limited access to mortgages and financial services to communities of color have put homeownership out of reach for many residents in the historic neighborhood.  

The project is slated to break ground in November with the first closings taking place in summer 2022. 

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About GROWTH by NCRC 

We believe that no matter where you start in life, or the neighborhood you live in, every family deserves the  opportunity to own a home, to start building wealth and to enjoy the American Dream. Our mission is to  make homeownership possible for more people.  

GROWTH is an initiative of the National Community Reinvestment Coalition (NCRC) and is fueled by the  NCRC Housing Rehab Fund (the “Fund”), a private equity real estate fund focused on rehabbing (and  building new construction) single-family houses to provide affordable homeownership opportunities in low and moderate-income communities or for low- and moderate-income people. The Fund has been operating  for five years and is operating in nineteen cities.  

For more information about NCRC Housing Rehab Fund, please contact Ed Gorman, egorman@ncrc.org,  (202) 464-2728 or visit www.growthbyncrc.com.  

About Riddle Property Group 

Riddle Property Group, LLC (RPG) is an established minority real estate owner, operator, and developer headquartered in Atlanta, Georgia. Since 2005, RPG has acquired, repositioned, developed, and operated over $20 million in real estate assets in Atlanta, Georgia and Chicago, Illinois. RPG and its affiliate brands own and manage over 500,000 square feet of commercial, residential, and industrial space in the aforementioned cities. RPG prides itself on doing good for the community, while doing well economically for its Partners. 

For more information, please contact Jeff Riddle at jeff@riddlepropertygroup.com.

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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