2. East Lake received a 19% approval rate out of 37 reviews with posters lodging similar complaints of poor security, uncleanliness, unrule neighbors and unresponsive management. What is your reaction to this?

·         The Villages of East Lake take a lot of pride in high retention rates and high occupancy rates for all rental units.  The Villages maintain over 90% occupancy and high retention rate of nearly 65% for the market rate apartments (the average retention rate being 5-10% for other market rate communities).  Residents in the community can “choose with their feet,” and therefore the East Lake community uses both retention and occupancy to inform choices about management performance and resident satisfaction.

·         The Villages of East Lake strive to ensure that all residents are comfortable, safe and held to the same leasing expectations. 

       3. Are middle-income people or market-rate people comfortable paying rent and living in a mixed-income community?

·         Yes.  The occupancy by market rate renters speaks for itself.

·         East Lake offers competitive rental rates, larger floor plans and golf course views.  Additionally, the neighborhood has amenities such as the neighborhood YMCA, Drew Charter School, Publix grocery store, Wachovia and SunTrust Banks and close highway access.  The “value proposition” when determining where to live (for any person/family) is a balance of your priorities and needs.

·         We knew we were doing things right in East Lake Villages and in the neighborhood when homes were listed on the market with Drew Charter School as an amenity adding value to the home location.  Because our community is rich with amenities like Drew Charter School, a golf course, the YMCA and a local Publix, we find that people are excited to live in this unique community.

·         At East Lake, subsidized apartment homes are leased at a higher rate (98%) than market apartment homes (90%), and market apartment homes are leasing at a higher rate than market rate competitors.  Knowing that residents can choose to live in a variety of communities, The Villages consider high occupancy rates a testament to the desirability of units and the community.

       4. Augusta, Georgia seemed negative toward the project from the beginning. They said that Atlanta had things going for them that Augusta did not. If that is the case why is an East Lake type project good for Augusta or any other city that doesn't have what Atlanta had going for it?  

·         Community leaders from Augusta came to East Lake Foundation for advice and help for a mixed-income housing project (not a holistic model including education).  The community had not been adequately informed and engaged, and the city’s tight time frame prevented that important step from happening.  Therefore, there was insufficient support for the endeavor.

·         We have seen evidence in cities all over the country (besides Atlanta) indicating the success for families and children who live in the mixed-income model such as Denver, Seattle, Louisville and Boston.  

·         New Community Ventures researched the qualities that a community should have to be a good fit for the “East Lake Model”.  These are qualities that we can clearly identify in Atlanta and our network cities: New Orleans, Memphis, Charlotte, Jackson, Indianapolis and Rome, GA. 

o   Lead Organization – an organization whose mission is to ensure the success of this model, fundraise for additional costs and bridge the gaps between partners.  We recognize that this is a full-time job and must have access to all segments of the community

o   Mixed-income housing – both rental and homeownership

o   Education reform with a data-driven focus on high expectations from cradle to college

o   Public and private partnerships  to provide services and amenities for the community

o   Economic stability – we have found that there must be resources to a wider, successful economy

o   Political and/or community support for the project

       5. A number of negative reviews were recently posted about East Lake by tenants from 2002 to 2009. Could you please respond to those reviews in general.

·          The Villages of East Lake take a lot of pride in high retention rates and high occupancy rates for all rental units.  The Villages maintain over 90% occupancy and high retention rate of nearly 65% for the market rate apartments (the average retention rate being 5-10% for other market rate communities).  Residents in the community can “choose with their feet,” and therefore the East Lake community uses both retention and occupancy to inform choices about management performance and resident satisfaction.

·         The Villages of East Lake strive to ensure that all residents are comfortable, safe and held to the same leasing expectations. 

     Paul Nagy