Top-Quality Affordable Senior Housing Opens in Old Fourth Ward
Thursday, January 5, 2017
The first phase of City Lights, a new affordable housing community reserved for seniors, celebrated its grand opening on December 15. The 80-unit complex is located on Boulevard in the City of Atlanta’s Old Fourth Ward neighborhood. Senior residents were joined at the grand opening celebration Invest Atlanta President and CEO Dr. Eloisa Klementich, First Lady of Atlanta Sarah-Elizabeth Reed, Councilmember Kwanza Hall, Commissioner Camila Knowles from the Georgia Department of Community Affairs, and many others.
Invest Atlanta played a key role in bringing the City Lights project to fruition, issuing $7.5 million in tax- tax-exempt bonds and providing $600,000 in HOME funds to finance the development. Other partners included the City of Atlanta, the Community Affordable Housing Equity Corp., Sugar Creek Capital, Georgia Department of Community Affairs, and the U.S. Department of Housing and Urban Development (HUD). Wingate Companies and Columbia Residential worked jointly on the project, which offers high-quality 1 bedroom apartments to residents over the age of 62 with income at or below 60% of the area’s median income.
City Lights is not only affordable, it’s also of the highest quality. In fact, the National Association of Home Builders gave City Lights its “Gold Achievement Award” for Best 55+ Affordable Rental Community in the U.S. All of the five-story complex’s 80 units were leased within 3 days of becoming available. With access to amenities such as a sundeck, fitness center, and covered parking, the low-income senior residents will be able to live independently right in the heart of the city.
The support Mayor Reed and Invest Atlanta provided to the City Lights project is part of a larger effort in Atlanta to create high-quality, mixed-income housing in neighborhoods throughout Atlanta. Since 2010, Invest Atlanta has approved nine senior housing developments. Projects funded or opening in 2016 include City Lights, as well as the 70-unit Reynoldstown Seniors Development along the Atlanta BeltLine and The Remington, a 160-unit complex that replaced several blighted properties.
Wingate announced the beginning of construction on the project’s Phase II, a 96-unit multi-family affordable housing community called Station 464. Construction could start on the project this year.Tweet