H.J. Russell & Company Preserves Affordable Housing For 20+ Years

The preservation of affordable housing and the quality management of those communities is, and always has been, a commitment of H. J. Russell & Company (Russell), beginning with the founder, Herman J. Russell in 1952. Today, with gentrification spreading from Atlanta’s city center outward in every direction, preserving affordable housing remains a clear and present priority for Russell as it stays true to its roots and the community. In 2019, Russell proudly completed $48.2M in renovations of 376 affordable housing units among three properties: New Villages of Castleberry Hill, Maggie Russell Towers, and Capitol Vanira Apartment Homes.

Today, H. J. Russell & Company, along with its sister company, Russell New Urban Development, LLC and government and funding partners, cut the ribbon during the grand reopening event of phase one of the New Villages of Castleberry Hill. The Villages of Castleberry Hill, originally built in 1999, boasts 166apartment homes in phase one that are comprised of RAD (Rental Assistance Demonstration (66), Tax Credit (36) and Market Rate (64)) units serving mainly families. The 11-building complex, which sits on nearly 5 acres, is located in the heart of the city, just blocks from the new Mercedes-Benz Stadium, within the quaint Castleberry Hill community, and near all of the Atlanta University Center college campuses, the trendy Westside, as well as other sports and entertainment venues like State Farm Arena, Home Depot Backyard and Centennial Olympic Park.

“Our investment to enhance affordable housing underscores our dedication to more than just building structures, but also building communities,” said Michael B. Russell, CEO, H. J. Russell & Company and Russell New Urban Development, LLC. “With our history in this space, and understanding and supporting the city’s commitment to housing affordability, we’re ensuring as many citizens as possible will have access to affordable, quality housing in the heart of Atlanta.”

During the summer of 2019, Russell reopened 210 units in the $22.3 million renovated Maggie Russell Towers (for seniors) and Capitol Vanira Apartments (for families) in The Old Fourth Ward and Reynoldstown respectively. Russell manages 24 multifamily locations in Georgia and South Carolina, which make up a total of 2,701 units, and 2,304 of which are considered affordable housing.

“With the completion of all of these renovations, along with the stipulations on these projects, we have effectively preserved a significant amount of affordable housing for seniors and families in the heart of Atlanta for the next 20 years,” said H. Jerome Russell, President, H. J. Russell & Company and Russell New Urban Development, LLC.

The following are some of the factoids that represent each of the projects in numbers:

New Villages of Castleberry Hill -Castleberry Hill

• 24 Subcontractors
• 110,740 Square Feet of Flooring
• 372 Days to Complete
• 148,800 Estimated Hour of Teamwork to Complete
• 2,093 New Doors
• 12,175 New Windows
• 3,158 New Cabinets
• 1,328 New Vanities
• 840,336 Square Feet of Interior Painted
• 2,934 Feet of Carpet
• 166 Ranges, Dishwashers, Washer/Dryer Units
• 167 Refrigerators, Microwaves and Garbage Disposals
• 91,657 Square Feet of Exterior Brick and Hardie Board Siding
• 42 Security Cameras
• 2 Bike Racks

Maggie Russell Towers -Old Fourth Ward

• 24 Sub-contractors
• 128,832 Square Feet of Flooring
• 375 Days to Complete
• 174,800 Estimated Work Hours to Complete
• 936 New Doors
• 150 Ranges, Hoods and Refrigerators
• 362,757 Square Feet Painted

Capitol Vanira Apartments - Reynoldstown

• 23 Sub-contractors
• 62,845 Square Feet of Flooring
• 256 Days to Complete
• 82,000 Estimated Work Hours to Complete
• 82 New Doors
• 60 Ranges, Hoods and Refrigerators
• 300,000 Square Feet Painted

Atlanta’s mayor announced the One Atlanta Housing Affordability Action Plan and the Atlanta Regional Commission has made it a top priority in the agency’s Metro Atlanta Housing Strategy. All of the efforts are designed to address the city’s rising housing costs and the systematic displacement of residents who have called their neighborhoods home for decades. Atlanta’s mayor, Keisha Lance Bottoms, recently announced the “One Atlanta Housing Affordability Action Plan” that is designed to address Atlanta’s rising housing costs and the systematic displacement of residents who have called their neighborhoods home for decades. The ‘Plan’ involves garnering $1 billion in investment from public, private and philanthropic sources that will help preserve and create affordable housing throughout Atlanta.

ABOUT H. J. RUSSELL & COMPANY

Founded in 1952, H. J. Russell & Company is one of the largest minority-owned construction services and real estate development firms in the United States. A multi-faceted organization providing integrated solutions and an exceptional customer experience, Russell has developed, designed/built, renovated, and managed some of the nation’s most complex and high profile projects involving multiple stakeholders and requiring exceptional diplomacy and skill, including the Mercedes-Benz Stadium with the HHRM JV and the Smithsonian National Museum of African American History and Culture with Clark Construction and Smoot Construction. Russell manages 24 multifamily locations in Georgia and South Carolina, which make up a total of 2,701 units, and 2,304 of which are considered affordable housing. Visit www.hjrussell.com to learn more about the firm.