Hello neighbors! Thank you to all who attended our neighborhood meeting with Stan Sugarman (and Atticus LeBlanc) from Stryant Construction to discuss the latest plans for Blue Sky.

We know that several neighbors were unable to attend but were interested in the outcome of the meeting, so the meeting was recorded in case you are interested in watching it. That recording will be available on Facebook — https://www.facebook.com/627146012/videos/5146581568753154/

Here are notes summarizing the meeting as well.

Intro:

• Stan Sugarman, guest speaker – Co-Founder of Stryant Construction; also joined by fellow Midway Woods neighbor and Co-Founder, Atticus LeBlanc
• BlueSky is located off of Oldfield Rd and Memorial Drive; an ongoing project for many years of Stryant, and now ATKM.

Recap:

• The plan for the property has changed since the original plan was presented to Midway Woods in 2018 due to sewer capacity issues. DeKalb County has limited sewer connections through 75% of the county.
• Property will now be apartments only, using the existing structures rather than a complete re-build.  
• They’re having to work with the grandfathered sewer system, which is in good condition (and was just cleaned out).
• Property will now be called Tupelo Hill. 
• Property will be owned by ATKM, which was founded by the Stryant owners.  

• Over the last six months they’ve done several repairs. All trees were cut back and leaves we removed. Power poles were removed and they’re working to get power back to the property. Asbestos abatement is currently happening.
• The plan is to rehab all the buildings in the next six months. They’ll look very different. The only thing that will be maintained will be the shape of the buildings. Entirely new floorplans and interiors.
• This will be considered “attainable housing – those who are making 140% of average income down to those making 80% of average income. 
• Focus is rehab, really improve it and re-write the story – really great rental housing.
• They were originally looking at a master redevelopment, but this will actually preserve more of the property and more of the trees.

Is there any chance for there to be condos vs. apartments?

If there was no history with the property, yes.  But the legal issues and the fraud have made it nearly impossible to get title insurance on the property.  The property was considered uninsurable if they were to be converted to condos or single-family homes, because the property was a huge loss for title insurance companies.  The only way to get title insurance at this time is to have rental properties only – so the pivot was made to turn the units into apartments.

The history of BlueSky – to help explain the fraud:

The former owner sold units that did not exist – it was a mortgage scheme where they sold the units to straw buyers and pocketed the cash.  The owner ultimately spent time in federal prison.  

There were more than 2,200 liens on the property when it was purchased by Stryant, after the county had been working on it for 7 years before they sold it.  The only way to get it to an insurable state was to buy every single unit.  They had to assemble all the old deeds, foreclose on straw buyers that didn’t exist and work through all of it with a lawyer.

What are plans for the area right outside of the actual buildings, for the trees and landscaping, etc.

They recently had a tree company come and trim all the trees, remove vines to keep them healthy, etc.  All the trees that are there now are going to be saved.  The property lines are pretty much inside the fence; the only exception is a spike strip with unclear ownership because it shows that it is Oldfield Rd, but when they talk to the county the county says they own Oldfield Rd.  It is probably about a half an acre – ownership isn’t great/clear about what is going on.

Do you know who will manage the apartments?

They have interviewed a couple of companies and they have a short list.  They talked to Range Water – one of the bigger management companies in Atlanta.  Also SMP, who they’ve worked with in the past. They are likely their top choices. They are both multi-state – but are both based here in Atlanta.

Do we have a sense for the timeline?

It is likely an 18-month project.  They’ll probably open one phase/building in 12-14 months.  They’ll work their way from Memorial and back. 

What about security?

They anticipate having access control as well as security cameras.

Would there be any access for Midway Woods neighbors (as originally planned with the first concept)?

No – this will be a gated community.  There will be a knock box that will be for emergency access only on Oldfield.  The main entrance will be Memorial.  No access for Midway Woods.

What else will it have?

Dog park, some outdoor green space, hopefully when they get sewer capacity, they’ll do a phase with a pool (more of a wading area, etc.), grills, etc.

So, this is not affordable housing?

They’ll do income screening and background verification.  Their assumption on AMI is based on demographics based on their target market for the property – those making around $50,000-$80,000 per year.

Do we know the size of units?

They’ll be focusing on 2-bedroom apartments.  The market has moved to mostly roommates, so that’s what they’re focusing on.

How similar is this to the plans for Legacy Park?

This will be market rate/naturally occurring affordable housing.  Legacy Park will be focused on more “true” affordable housing.  Right now, the market rate is $1,300 for 2 bedroom apartments, so affordable for two roommates.  This would officially be considered middle income – but since a studio average is $1,700/month, this is still affordable and has significant value.