Atlanta, GA, May 25, 2022 (GLOBE NEWSWIRE) -- UC Asset (OTCQX: UCASU) announced that it has been granted a permit by the city of Atlanta to start the first phase of renovations on the historic Rufus Rose House. “We’ve been looking forward to starting the restoration process,” says Greg Bankston, managing general partner of UC Asset. “Under this permit we will repair the power lines and install a temporary power pole. This will enable us to restore electricity to the property and provide the basic.”
The Rufus Rose House is one of the oldest buildings in metropolitan Atlanta, and currently the only standing Victorian mansion in the central district. Known as the "Rose on Peachtree", the property is a late Victorian Queen Anne style home built in 1901 and nestled in the heart of the city. The refurbished Rose on Peachtree is posed to attract the attention of the 50-60 million visitors/tourists to Atlanta every year. Rufus Rose house is listed on the National Register of Historic Places (since 1977) and is designated as a Landmark Building Exterior (since 1989) by the City of Atlanta.
UCASU plans to fully refurbish and restore the Rose on Peachtree to preserve its historic legacy, and to work alongside city leaders and influencers to promote the diverse and socially inclusive future of Atlanta.
Last year, former mayor Kasim Reed hosted a ribbon-cutting ceremony at Rufus Rose House to celebrate its new ownership. Later, former US Congressman Kwanza Hall joined UC Asset’s management. While Mr. Hall has entered into the race for Lieutenant Governor of the State of Georgia earlier this year, he has continuously led UC Asset's historic landmark program, including the Rufus Rose House project.
“Our goal has always been to use real estate to positively engage and impact the Atlanta community,” says Larry Wu, founder of UC Asset. “The Rufus Rose house is a part of the city’s rich history, and our goal is to invite the Atlanta community to be a part of the journey. It’s Atlanta history happening in real-time.”
About UC Asset LP
UC Asset LP is a limited partnership formed for the purpose of investing in real estate with value-added strategies, concentrating in metropolitan areas of Atlanta, GA. For more information about UC Asset, please visit: www.ucasset.com
Disclaimer:
This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.
For More Information Contact:
Christal Jordan | Investor Relations Director, UC Asset LP
cjordan@ucasset.com | 678-499-0297
