Developer: Wingate Capital Partners, LLC
Location: Atlanta, Georgia
New Construction/Elderly/80 units
For years, Atlanta’s Old Fourth Ward struggled with dilapidated public housing and vacant lots. After a fire burned down the Bedford Pine housing community, the neighborhood began a complete transformation. Central to this revitalization is the development of City Lights, an 80-unit apartment community for low-income seniors. This modern five-story apartment building offers residents high-end amenities – including a sundeck, fitness center, WiFi, and community kitchen – at an affordable price. The best part though? City Lights provides residents who grew up in the Fourth Ward neighborhood the opportunity to afford to stay in their local community and still have a safe, affordable place to call home.
Developer: The Flatiron Group, Inc.
Location: Marion, North Carolina
New Construction/Family/60 units
The city of Marion is facing many of the same issues other cities across the country are facing – steady increases in renter households, a high percentage of low-income residents, and a shortage of affordable housing. With workers seeking affordable housing and local rental communities struggling with consistently high occupancy rates, the development of Harrison Terrace was extremely important. This beautiful 60-unit development features one-, two-, and three-bedroom apartments for families earning 60 percent or less of the Area Median Income. In addition to spacious units, residents also have access to a computer center, exercise facility, playground, and outdoor picnic and sitting areas. The residents of Harrison Terrace couldn’t be happier to call this new community home.
Kentucky Preservation Portfolio
Developer: Winterwood, Inc.
Acquisition & Rehabilitation /Family & Elderly/563 units
With the need for affordable housing continuously on the rise, it is extremely important that in addition to building new low-income developments, we also preserve the existing affordable housing supply. The Kentucky Preservation Portfolio transaction allowed for the acquisition and rehabilitation of 15 properties across of the state of Kentucky. In total, 563 units of affordable housing were completely renovated for low-income seniors and families. The extent of renovations varied from development to development, and generally included overhauls of HVAC systems, windows, doors, roofs, bathrooms, and kitchens. Brand new energy efficient appliances save the residents money while ensuring better resident safety. This successful collaboration demonstrates the importance of preserving the existing affordable housing supply, while providing residents with safe, affordable housing for years to come.
Developer: AU Associates, Inc.
Location: Sutton, West Virginia
Adaptive Reuse/Elderly/23 units
A building that once served as the local high school in Sutton, West Virginia, had turned into what many considered an “eye-sore” in the community. This vacant building needed a new purpose, and through excellent teamwork and forward-thinking, the site was transformed into a gorgeous affordable housing community for seniors. This adaptive reuse now provides 23 one- and two-bedroom units to residents 55 and older earning 60% or less of the Area Median Income. Although the building underwent a complete renovation both inside and out, the development team did a fantastic job ensuring the history of the building remain intact. Many of the senior residents know the background of the high school and take great pride in being a piece of the historical integrity.