Image courtesy of Forrest Street Partners.
Roswell-based Forrest Street Partners continued its recent investments in metro Atlanta with the acquisition of the 78-lot Dogwood Blossom Mobile Home Park in Douglasville.
The boutique real estate investor plans to infill 50 vacant lots with new three-bedroom, one-bathroom homes as part of its mission to increase the supply of affordable housing, according to a press release.
The Dogwood Blossom acquisition comes after Forrest Street’s recent purchase of Riverside Estates, a 307-site manufactured home and RV resort in Covington.
“We have mobile home parks and RV parks spanning several states across the Southeast; it is nice to have such a great project in our back yard,” Forrest Street partner Brandon Crim said. “The growth in Douglasville and metro Atlanta has created the need for more affordable housing, and we are proud to be able to fulfill a piece of that need.”
Douglasville, which is 15 miles west of downtown Atlanta, is an attractive market because of its proximity to the metro area and its strong workforce, Forrest Street said in the release. The firm noted that Douglas County has grown more than 10% over the last 10 years and is well positioned to benefit from the arrivals of Amazon, Google and Microsoft.
Besides the new homes, Forrest Street plans to upgrade the park by connecting it to public water, repaving existing streets, improving common areas and more.
Riverside Estates in Covington. Image courtesy of Forrest Street Partners.