Historic rehab to mixed-income rental housing
The renovation of the historic Imperial Hotel came to fruition in the run-up to the 1996 Olympic Games, with its conversion by Progressive Redevelopment, Inc., from a prominent and abandoned eyesore into a showpiece property at the gateway to downtown Atlanta. The 120-unit Imperial Hotel is a superlative example of supportive housing.
Executed during Bruce's tenure as president & CEO of PRI, the project attracted widespread community support and earned several awards over the years. The $10-million-dollar gut renovation was funded by all levels of government, four local banks, and local philanthropic sources.
PRI functioned as developer, owner, and property manager, while using contractors to manage residential services. In 1997, the Atlanta Business Chronicle lauded the Imperial as one of the "deals of the year," for preserving such a prominent landmark.
In the late 1990s, the $60 million 2500 Peachtree condominium ushered in the era of luxurious, mid-rise condo living in Atlanta, achieving what were, at the time, the highest sale prices ever for a condominium. Today, its graceful Italianate design looms over the corner of Peachtree Street and Lindberg Road. Bruce served as junior partner and CFO of The Urban Group, led by renowned Atlanta developer Blaine Kelley, Jr.
After selling the project, Bruce returned to the helm at PRI.
Senior rental housing
Developed by PRI and opened in 2010, Adamsville Green was conceived to fill the need for high quality, affordable housing for seniors and to be a part of the revitalization of the Adamsville community in northwest Atlanta. Befitting its name, this 90-unit property earned EarthCraft designation due to its energy-efficient features. Today, Adamsville has continued its transformation, and the property has continued to perform exceptionally well.