Gary R. Hammond Jr.

Gary Hammond, Jr.

Gary Hammond, Jr.Perimeter Atlanta Realty7000 Peachtree Dunwoody Rd., Suite 4-100Atlanta, GA 30328

Phone: (770) 481-0853Fax: (678) 638-4230
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Gary began his career in real estate in 1990 as an independent fee appraiser in Atlanta, Georgia.Later, he worked in Boston, Massachusetts as a Review Appraiser, before returning to Atlanta to establish a career in real estate appraisal, brokerage, and development.Gary graduated from the University of West Florida in 1988 with dual Bachelor degrees in Business Management and Psychology and from Georgia State University in 1996 with a Master degree in Real Estate.He earned the prestigious MAI designation from the Appraisal Institute in 1993 and the CCIM designation from the Commercial Investment Real Estate Institute in 1999.

Gary R. Hammond, Jr., MAI, CCIM Associate Broker

Gary R. Hammond, Jr., MAI, CCIM
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Gary R. Hammond, Jr., MAI, CCIMAssociate Broker

(770)-481-0855 x10, Office (404)-543-0855, Mobilegrh@grhco.com

, Gary R. Hammond, Jr. CCIM, Perimeter Atlanta Realty, Inc., Atlanta GA

Gary R. Hammond, Jr.

President

Phone:

770-481-0855

Gary Hammond7000 Peachtree Dunwoody RoadSuite 4-100Atlanta, GA 30328770-481-0855 x10
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e-mail Gary Hammond

For Bridgeland, Gary Hammond will hold the title of Chairman and CEO and Steve will hold the title of President and COO.

It will help stabilize the neighborhood and help bring up property values," Gary Hammond, president of Hammond Development, said shortly after his $15 million project received unanimous approval, 6-0, from the Columbus Planning Advisory Commission.The board is the first step for rezoning cases, which ultimately are decided at a later date by Columbus Council.

Though a basic design plan won't be ready until May, Hammond expects to put 101 apartments in the mill, along with an assortment of amenities -- fitness center, media center, sitting areas and craft rooms.The units will have two bedrooms and range from 800 to 1,000 square feet.

Because Hammond is seeking funding through use of housing and historic credits, rents will vary based on a person's income.Most will range from $230 to $560 a month, while fair-market units -- about 21 of them -- will fetch $625 monthly rents.

The Georgia Department of Community Affairs, the Georgia Department of Natural Resources, the Federal Home Loan Bank and the Columbus Planning Division all will play a part in lining up the mill restoration, Hammond said.

"Everybody comes together to pull off a project like this," he said.
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Part of the allure to the area for Hammond was the city's plans to widen Talbotton and convert an abandoned rail line into a pedestrian walking and bicycling trail.Medical offices and hospitals also are nearby, while the demolition of Peabody public housing -- about a block away -- and its conversion to mixed-income housing also weighed heavily in the company's decision to move forward.

Construction is the biggest concern, Hammond said.

"Without a doubt, you have to manage your construction budget.It can get out of control very quickly because there's so many unknowns in any rehab," he said.
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Hammond expects to have financing lined up by September or October, with the purchase closing by March or April 2006.
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Hammond said there will be no commercial component to the mill, which is situated in an area mixed with residential and commercial.

Gary Hammond, president of Hammond Development, said if all goes as planned, the project will receive historic designation by May 5.The state will notify the company if it will receive the housing tax credits in September.Hammond will close on the property in March 2006 and construction will begin the following month, he said.

Gary R. Hammond, Jr., MAI, CCIM

Associate Broker

Phone: 770-481-0855 x10