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Banyan Street-Greystar Creating ‘Affordable Housing Out of Thin Air’ in Atlanta

The $125-million project being built atop an existing parking garage will feature 345 apartments, including 70 workforce units.

A rendering of the Ascent Peachtree multifamily project in Downtown Atlanta. A rendering of the Ascent Peachtree multifamily project in Downtown Atlanta.

ATLANTA—Miami-based Banyan Street Capital and Greystar, which is headquartered in Charleston, SC, have acquired the necessary land rights and secured construction financing to begin construction in the coming weeks on a new high-rise multifamily development in Downtown Atlanta called Ascent Peachtree.

The $125-million project being built atop an existing parking garage will feature 345 apartments, including 70 workforce units. Twenty percent of the units within the project will be set aside for residents earning 80% of the area median income or less. The project is set to break ground next month.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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