Leaders re-launch afterschool program at Marietta affordable hous

Non-profit Star-C, with owner of Stratford Ridge Apartments, FCP, implements wraparound services, minimizing student transiency and fostering student success

Cobb County Commissioner Bob Ott and Brumby Elementary School Principal Dr. Amanda Richie helped cut the ribbon Tuesday, Feb. 26, at Stratford Ridge Apartments (formerly Madison Hills), celebrating the re-launch of afterschool programs at the complex. They were joined by representatives from non-profit Star-C Programs and FCP℠, the owner of Stratford Ridge, as well as many others.

“Star-C provides real benefits to the families living in the community and to the landlord,” says Audrea Rease, Executive Director of Star-C. “The families have a safe, free, afterschool program on site that provides academic support to their children. The landlord has happier residents who are more likely to renew their leases, which stabilizes the community.”

Rease notes that the ribbon cutting is a full-circle moment for Star-C, a non-profit education model with an affordable housing solution, because it is where the innovative non-profit program got its start. When new owner FCP purchased Stratford Ridge, they asked to partner with Star-C, which assists economically disadvantaged families living in affordable housing communities by providing wraparound services ranging from after-school programs to healthcare.

“Star-C helps create stability,” Commissioner Ott says. “The kids have a place to go, and they work on study skills and get involved in other positive activities. The apartment community becomes a stable place for kids and their families so they stay in the same school; they become more successful and the school does too. This is a model that could work other places in our County.

Stratford Ridge Apartments (2560 Delk Rd SE, Marietta, GA 30067) is the latest site to launch Star-C programs. At Star-C’s four locations, the apartment community’s owner contributes approximately 50 percent of the cost to operate the wraparound programs. The remaining funds are sourced from foundations, donations and grants. Part of Star-C’s mission is to improve educational performance by reducing student transiency. It partners with apartments near high-need schools, stabilizing affordable housing communities with a mandate/landlord agreement to keep rents affordable.

“When we had this program before, the kids did thrive,” says Dr. Richie. “We saw the scores go up, discipline issues go down and had an increase in student participation. The kids were engaged and wanted to do well. We are very excited to have Star-C back and happy that Stratford Ridge wanted to host the program. We’re all collaborating so the students can be successful, and that’s what’s really important.”

In addition to representatives from Star-C, the school, the county commission and the owners of Stratford Ridge, leaders from Pinnacle Property Management, which manages Stratford Ridge, and leaders from the surrounding community were present for the ribbon cutting, a tour of the facility and a brief reception.

“FCP is thrilled to partner with Star-C at Stratford Ridge to offer high-quality after school programming to the children of our residents,” says FCP Vice President, Jeff Robertson. “FCP has a longstanding commitment, through our FCP SERVES program, to educate children in the communities in which we invest. When our residents succeed, we all succeed.”

About Star-C Programs: Now in its 4th year, Star-C is a 501(c)(3) non-profit corporation that bills itself as an education model with an affordable housing solution. Star-C’s pilot program, at Willow Branch Apartments in Clarkston, has proven successful. Star-C also partners with other entities to ensure resident needs are met in its communities. For instance, partners ensure apartment community residents have access to affordable medical care. Star-C holds a monthly breakfast at which anyone who is interested can learn more about the organization, programs and outlook; see Monthly Breakfast information on its website: http://www.star-c.org.

Marjy Stagmeier, a partner in TriStar Real Estate, is the founder of Star-C, and helped cut the ribbon at the event. TriStar principals, including Duncan Gibbs, who also was at the ribbon cutting, have been investing in core and value-add real estate since 1995. In 2013, they formed TriStar Real Estate as an investment platform for domestic and international fund and direct investments in American commercial real estate, including a broad spectrum of property classes at opportune timing in the market cycles. TriStar launched a social impact fund in 2015 to facilitate the proliferation of affordable housing in Atlanta. Star-C partners both with TriStar-owned properties, as well as those owned by others, such as FCP’s Stratford Ridge.

“When my partners and I previously owned and renovated this property, we realized the impact that an apartment community can have on local schools,” Stagmeier says. “By stabilizing this community, providing an onsite afterschool program and collaborating with the school, we were able to help Brumby Elementary become a Title I School of Distinction. We were so proud of that, and we’re excited about what Star-C, Brumby and FCP will accomplish together now.

About FCP
FCP℠ is a privately held real estate investment company that has invested in or financed more than $6 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.