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Redland Trace Apartments in Lawrenceville, GA

June 19, 2026
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REDLAND TRACE
LAWRENCEVILLE, GA

Zimmerman Properties SE, LLC is proud to announce the closing of project financing and commencement of construction on Redland Trace Apartments in Lawrenceville, (Gwinnett County) Georgia.  The development is 80 units, with 60 units of affordable housing which will be rented to residents earning 50% and 60% or less than the area median income and will contain: 16 one-bedroom units, 32 two-bedroom units and 32 three-bedroom units.

The development is being financed through the following sources:

  • $17,500,000 of construction financing was made by Truist Bank

  • Georgia Department of Community Affairs (DCA) awarded $1,350,000 of annual Federal and State low-income housing tax credits

  • Affiliates of Truist Bank made equity commitments to the Development and will be allocated the federal and state tax credits

  • Truist Bank underwrote a Permanent Loan of $5,739,000 which will have a 35 year amortization, and a fixed interest rate of 6.95%

The development team consisted of:

Developer: Zimmerman Properties SE, LLC

General Contractor: Zimmerman Properties Construction, LLC

Management Agent: Wilhoit Properties, Inc.

Architect: Buxton Kubik Dodd, Inc.

Engineer: Kimley Horn

The general contractor has been issued a notice to proceed with construction, which should be complete in December 2027 with pre-leasing commencing in Fall 2027.