New affordable housing project will house
independent seniors aged 62 and older
ATLANTA, May 23, 2024
/PRNewswire/ -- Atlanta Housing (AH) and The Benoit Group
today celebrated the groundbreaking of Englewood Senior. Joined by
partners, including the City of
Atlanta, Invest Atlanta,
Georgia Department of Community Affairs, Berkadia Commercial
Mortgage LLC, Atlanta BeltLine, the U.S Department of Housing and
Urban Development, Atlanta City Council, Neighborhood Planning Unit
Y, Georgia Department of Community Affairs, JM Wilkerson, and
Engineering Design Technologies, the groundbreaking officially
marked the start of construction on the new independent senior
living project. Englewood Senior will house seniors aged 62 and
older and will be located in the Chosewood Park neighborhood, in
proximity to Zoo Atlanta, Grant
Park, and the Atlanta BeltLine. The affordable housing
project will have 160 units for residents earning at or below 60
percent of the HUD Area Median Income (AMI), all of which will
include HomeFlex vouchers provided by Atlanta Housing.
"Atlanta Housing is honored to support the development of
Englewood Senior with an investment of more than $3 million and a comprehensive plan for
transformative progress that will uplift the people of this
community," said Terri M. Lee,
President and Chief Executive Officer of Atlanta Housing. "This
affordable housing project will make a significant difference in
the lives of our senior and legacy residents by giving them the
opportunity to live in a community that will offer them
best-in-class amenities and an improved quality of life. Englewood
Senior is another demonstration of our commitment to providing
safe, quality, affordable housing options and ensuring that
Atlanta remains a city for
everyone."
Speakers at the groundbreaking included Mayor Andre Dickens, City of
Atlanta; Terri Lee, President
and Chief Executive Officer, Atlanta Housing; Eddy Benoit, Jr., President and CEO, The Benoit
Group; Larry Stewart, Board
Chairman, Atlanta Housing; Dr. Eloisa
Klementich, President and Chief Executive Officer, Invest
Atlanta; Carolyn Whatley, Managing
Director, Berkadia Commercial Mortgage, LLC; Ruben Brooks, Chief Operating Officer, Atlanta
BeltLine; Jennifer Riley Collins,
Atlanta Regional Administrator, U.S. Department of Housing &
Urban Development; Jason Winston,
District #1 Council Member, City of
Atlanta; Nichole Weiswasser,
Chairperson, Neighborhood Planning Unit Y; and Phillip Gillman, Deputy Commissioner,
Georgia Department of Community
Affairs.
Mayor Dickens said, "Our legacy community is the heartbeat of
this city, and helping them not only stay in their homes but also
find safe, quality, and affordable housing, will always be a
priority of my administration and the work we do. Today's
groundbreaking for the Englewood Senior housing is just one more
way to show our esteemed legacy residents that we're working on
their behalf."
Once completed, this senior development complex will include
community amenities such as a centralized outdoor courtyard,
computer room, fitness center, a multi-purpose community room, and
onsite laundry. Additionally, plans include over 15,000 square feet
of retail space for the benefit of the building and community. The
$72 million project is financed with
4% Tax-Exempt Bonds, HUD 221(d)4, BeltLine TAD and other federal
funds along with 100 percent of the units having Atlanta Housing
Project-Based Voucher Rental Assistance (PBRA). In addition,
to cover the $30 million cost to
construct the infrastructure for the entire 30-acre site, Atlanta
Housing provided $15 million and the
City of Atlanta used $15 million in Housing Opportunity Bond
funds.
"Partnering with Atlanta Housing, a leader in public-private
partnerships and a dedicated force in community revitalization,
perfectly aligns with our company's mission," stated Eddy Benoit, President and CEO of The Benoit
Group, based in Atlanta. "Although
this Englewood development is a mixed-use master planned community,
we are excited to break ground on the Englewood Senior building as
the first affordable housing complex for the elderly on the Atlanta
BeltLine."
Originally built in 1971 as Englewood Manor, on approximately 30
acres, the site contained 324 public housing units before the
residents were relocated in 2007 due to severe physical and social
distress, leading to the property's demolition in 2009 with HUD
approval.
Once all phases of the new Englewood development are complete,
the community will include an estimated 900 units, with roughly 76
percent of those earmarked as affordable for people with annual
earnings at or below 80 percent HUD AMI or less. Ultimately, over
$300 million will be invested from
public, private, and philanthropic sources.
ABOUT ATLANTA
HOUSING
President and Chief Executive Officer
Terri M. Lee leads The Housing
Authority of the City of Atlanta,
Georgia (AH), the largest housing authority in Georgia and one of the largest in the nation.
One of 139 Moving to Work (MTW) public housing authorities in
America, AH is an industry leader in providing and facilitating
affordable housing resources for nearly 27,000 low-income
households comprised of approximately 45,000 people, including
AH-owned residential communities, tenant-based vouchers, supportive
housing, as well as down payment assistance, where innovation leads
the approach to making the dream of homeownership attainable for
more Atlantans. Programs are funded and regulated by the U.S.
Department of Housing and Urban Development.
Visit AH at atlantahousing.org or follow us on social media
@housingatlanta.
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SOURCE Atlanta Housing