A residential developer will receive millions of dollars from state and local officials to build 80 affordable apartments for seniors at the Avondale Estate MARTA station.
Columbia Residential closed on a financing deal with the Decatur Housing Authority earlier this week to develop the new senior housing project, adding to an effort to put more residential density near key transit centers. The $32 million project is made possible by grant funding, tax credits, government loans and other assistance, the developer said.
The agreement comes at a time when developers face an uphill battle getting investors to back their projects. Multiple metro Atlanta developments have been delayed or scaled back due to financing issues and tight capital markets, which are grappling with high interest rates and the COVID-19 pandemic’s lingering effects on commercial real estate.
By WSBTV.com News Staff November 14, 2023 at 5:52 pm EST Atlanta rapper T.I. cuts ribbon for his first affordable housing development ATLANTA — Atlanta rapper...
Another Old Fourth Ward development begins vertical climb Wingate’s Boulevard North project is reshaping majority of block MAY 28, 2024, 12:00PM JOSH GREEN Boulevard’s transformation...
Atlanta Housing Celebrates Groundbreaking of Englewood Senior New affordable housing project will house independent seniors aged 62 and older May 23, 2024 Atlanta Housing (AH)...
Groundbreaking held for Englewood senior housing project The new development is in Atlanta’s Chosewood Park neighborhood. Author: 11alive.com Published: 11:43 AM EDT May 23, 2024 Updated: 11:43 AM...
NALHFA Announces 2024 Award of Excellence Winners May 3, 2024 LAS VEGAS, NV – The National Association of Local Housing Finance Agencies (NALHFA) announced its...
Developer gets financing for affordable housing near Avondale station
Developer gets financing for affordable housing near Avondale station
Credit: City of Decatur
19 hours ago
A residential developer will receive millions of dollars from state and local officials to build 80 affordable apartments for seniors at the Avondale Estate MARTA station.
Columbia Residential closed on a financing deal with the Decatur Housing Authority earlier this week to develop the new senior housing project, adding to an effort to put more residential density near key transit centers. The $32 million project is made possible by grant funding, tax credits, government loans and other assistance, the developer said.
The agreement comes at a time when developers face an uphill battle getting investors to back their projects. Multiple metro Atlanta developments have been delayed or scaled back due to financing issues and tight capital markets, which are grappling with high interest rates and the COVID-19 pandemic’s lingering effects on commercial real estate.
Source: https://www.ajc.com/news/atlanta-news/developer-gets-financing-for-affordable-housing-near-avondale-station/75ZWVXOP5NFZXNWFPKZ62NPJZU/