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ATLANTA — An affiliate of Valdosta, Ga.-based Ambling University Development Group (AUDG) has purchased an approximately 1.4-acre site near Georgia State University for $7.9 million. The site is located at 70 John Wesley Dobbs Ave. in downtown Atlanta. The former Ramada Hotel, rental car facility and parking garage on the property will be redeveloped in two phases. Phase I will include a 138-unit, 291-bed student housing facility that will open in summer 2013. A new tower featuring approximately 108 student housing units and 424 beds will open in summer 2014. Phase II will also include a new parking garage. John DeYonker of Bull Realty represented the seller in the transaction.