CARROLLTON, GA. — R.H. Ledbetter Properties, a development, investment and property-management firm based in Rome, Georgia, has secured $15 million in equity to put toward its $49 million project in Carrollton. The equity was provided by American South Capital Partners (ASCP), a joint venture between Los Angeles-based impact fund manager SDS Capital Group and Vintage Realty Co., a Shreveport, Louisiana-based property developer and manager.
While the property, Carrollton Flats, is not being developed with traditional tax credits, it is billed as offering “attainable” rents. ASCP’s fund has, to date, committed $199 million to 29 projects with a majority of units reserved for families earning no more than 80 percent of area median income. The 236-unit community is about 48 miles west of Atlanta.
Completion is slated for the second half of 2027. Carrollton Flats will be comprised of one-, two- and three-bedroom units. Amenities include a resort-style pool, a community clubhouse, a 24-hour fitness center, grilling stations, a pet park and green space.