Charles Williams, Jr. bio>
COMPANY HISTORY/FINANCIAL BACKGROUND
Gardner Williams bio>
Charles Williams Real Estate Investment Corporation opened its doors in 1968 as its founder Charles S. Williams Sr. had a vision to develop a range of different types of multi family housing product throughout the Southeast. During these early years the company specialized in developing and operating affordable and market rate housing. Many of these projects included HUD section 236, 221D-4 and FMHA 515 affordable housing developments. With the growth that ensued the corporate headquarters was formed in Rome, Georgia where today the operation continues as a second generation family owned business. The Corporate Office is located in historic downtown Rome and is known as Winthrop Corporate Square located on East 6th Avenue.
By early 1980’s, the company had established itself with a portfolio of projects ranging from affordable housing to hotels, nursing homes and market rate housing product. In 1984, Charles Williams Sr. followed a vision to retrofit a company owned hotel in Rome into a personal care home known today as Winthrop Court. This began a divergence into more senior care related business ventures which included, Winthrop Court Assisted Living, Winthrop of Broad Oaks care for Alzheimer’s and Winthrop Court DME and Comprehensive Outpatient Rehabilitation Services and a Home Healthcare Agency that was a joint venture arrangement with Floyd Medical Center.Winthrop Management Services was later developed by Charles Williams Jr. to develop and operate assisted living communities in the North Georgia area. These properties included joint venture arrangements for the development and ownership of Winthrop at Cobb, Winthrop at Tucker and Winthrop at Buckhead. These properties were all sold for premium values in recent years. The principals of the company continue to maintain active ownership and operate several communities in the Northwest Ga., Winthrop Court Assisted Living, Winthrop at Polk Assisted Living, and Winthrop West Alzheimer’s Community, all of which perform at capacity level.
Many properties have been successfully developed by CWREIC, managed through lease-up, stabilized and sold. In 1993 the company redeveloped the historic Greystone Hotel, located at 90 East 2nd Avenue, in Rome, as the first LIHTC renovation to be completed Rome. This affordable housing community includes 71 apartment units offering homes to the elderly and physically challenged. The property was syndicated through Boston Capital and was later purchased after meeting the fifteen year compliance period. CWREIC received special recognition for the historic renovation of this prominent building that is included in the listing of National Register of Historic Places.
In 2005 the company saw a market need for a gated upscale apartment community with amenities right in their backyard. The two phase development was completed in 2008 and is known today as Eastland Court Apartment Homes consisting of 116 dwellings. The property amenities include a clubhouse, resort styled swimming pool, fitness center, and playground. The property ranks as Rome’s most upscale apartment development to date.
In June of 2009 CWREIC completed the first Permanent Supportive Housing Project in the Northwest Ga. area financed through DCA. The Pine Ridge Apartments achieved 90% lease-up within a 90 day period and serves a population of residents who were formerly homeless. The operation is unique and includes a partnership with local social service agencies which provide oversight and direction for the residents. The company has appreciated the opportunity to develop and operate a unique affordable housing community that offers supportive services and was the first for profit entity in the State of Georgia to participate in the program.
Many of these properties have received recognition for many different achievements; Manager of the Year, Maintenance Staff of the Year, and 2003 Georgia HAP Property of the Year. Our HUD properties continue to receive yearly Superior inspection ratings and have our properties have also received a three-year exemption from the yearly scheduled Government Physical Property Inspection (REAC) due to superior scores. HUD’s Washington headquarters has recognized our property, the Carriage Apartments, for an earned superior score of 99 points. CWREIC was recognized in 2007 as the Georgia HAP and SAHMA Property Management Company of the year. The development of these properties has been a major commitment to provide many residents with quality living through many years.
CWREIC has significant experience in structuring and financing a number of housing types that required complex and creative financing solutions. Through it’s more than forty year history the company has always maintained a friendly can do attitude when approaching new opportunities. The mission and values remain the same today, “Create unique housing opportunities with a level of excellence that stands apart.” Currently CWREIC owns and operates a portfolio of multifamily and senior housing totaling over 60 million in asset value.
At Charles Williams Real Estate Investment Company, developing places to live, work and play has been a blessing to our team. It is our commitment to continue the legacy of values that the company was founded upon, act with integrity and serve our fellow man.
Developed by Charles Williams REIC 1960-1970’s
- Heatherwood Apartments, Rome, GA., a 68 unit community
- Meadow Lane Apartments, Rome, GA., 1973, a 120 unit community
- Fieldmont Apartments, Cartersville, GA., 1982, 40 unit property
- Georgian Apartments, Rome, GA., 1964
- Old Salem Apartments, Rome, GA. 1966
- Georgian Apartments, Dalton, GA. 1969
- Ramada Inn Hotels 1970’s
- Creswell Nursing Home 1970
Currently owned, managed, and developed by Charles Williams REIC:
- Greystone Apartments, Rome, GA., developed in 1993, 71 units designed for senior, handicapped and disabled living, DCA LIHTC
- Pine Ridge Apartments, 2009, DCA PHSP, Rome, GA., 30 units
- Carriage Apartments, Calhoun, GA., 1974, a 72 unit property, HUD Section 8
- Dallas Manor Apartments, Dallas, GA., 1980, 40 units, HUD Section 8
- Tamassee Apartments, Rome, GA., 1975, 80 units, HUD Section 8
- Lakeview Apartments, Canton, GA, 40 unit property, USDA
- Commodore Manor Apartments, Perry, GA., 52 unit property, USDA
- Hillside Apartments, Cleveland, GA., 32 unit property, USDA
- Guest House Apartments, Rome, GA., 1989, a 72 unit short and long-term rental property
- Arbor Terrace Apartments, Rome, GA, 1974, 96 units
- Eastland Court Apartment Homes, Rome, GA., 2005, Phase I a 60-unit gated community with Phase II, 56 additional units, completed in 2007
- Southland Heights Apartments, Americus, GA., 89 units
- Winthrop Court Assisted Living
- Winthrop West Alzheimers Community
- Winthrop at Polk Assisted Living
Assisted Living and Nursing Home developments:
- Creswell Nursing Home, Rome, GA., developed 1967
- Winthrop at Broad Oaks, freestanding Alzheimer’s facility, Cave Spring, GA.
- Springwood Retirement Home, Rome, GA., developed and formerly owned by Charles Williams REIC
- Winthrop Manor Nursing Home, Rome, GA., developed 1989, Rome, GA., a 100 bed facility owned by Charles Williams Trust
- Winthrop Court Assisted Living, Rome, GA., 1989, owned and managed by Charles Williams REIC, a 119 bed facility
- Winthrop at Cobb Senior Living, 2003, Marietta, GA. Partnered with Regent Partners, Atlanta, GA.
- Winthrop at Buckhead Senior Living, 2002, Atlanta, GA. managed a successful turnaround of a foreclosed property.
- Winthrop at Tucker Senior Living, Tucker, GA. 1999, Partnered with McNabb Group, LLC.
- Winthrop West Assisted Living and Alzheimer’s Facility, Rome, GA. 2002, owned and managed by Winthrop Management Services.
- Winthrop at Polk Assisted Living, Cedartown, GA, 2007, owned and managed by Winthrop Management Services
Related Businesses and Developments
- Horseleg Plantation Country Club and Estates, Rome, GA., 1998, developed and managed by Charles Williams REIC, full service country club and tennis facility. Developed and sold 22 upscale residential home sites.
- Winthrop Medical Services, Inc., Rome, GA., 1990, facility to provide various health care services to the elderly.
- Winthrop Durable Medical Supply Company, Rome, GA., developed 1990
- Altoona Home Health Care, Certificate of Need, Bartow, Floyd and Cherokee Counties, joint venture with Floyd Medical Center
- Winthrop CORF, Compliance Outpatient Rehabilitation Facility
- River Bend Mall Development, Rome, GA., redeveloped and sold 1997
