Benoit Group JV Secures Financing for $72M Atlanta Senior Housing Project

This future affordable community will be part of a multi-phase master-planned development.

Property at 430 Englewood Ave. SE, Atlanta
Englewood Senior will rise some 2 miles south of Zoo Atlanta. Image courtesy of The Benoit Group

The joint venture of The Benoit Group, Atlanta Housing, Invest Atlanta and Atlanta Beltline has secured the necessary financing for the development of Englewood Senior in Atlanta.

The 160-unit affordable senior housing project is part of a multi-phase master-planned development rising on the 30-acre site of the former Englewood Manor public housing property.

JM Wilkerson is the general contractor of the $72 million project, while Corcoran-Ota is the architect of record. Estimated to cost $54.9 million, construction is expected to wrap up in 26 months.


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In addition to LIHTC financing, the partnership obtained the following funds:

  • $18 million HUD 221(d)(4) senior debt originated by Berkadia.
  • $3.3 million secondary priority loan originated by Atlanta Housing
  • $3 million Beltline TAD funds originated by Invest Atlanta
  • $27.2 million in federal investor equity through Raymond James
  • $19.1 million in state investor equity through Raymond James

Furthermore, Atlanta Housing will provide $2.5 million in rental subsidies for low-income families using Home Flex vouchers.

A look inside Englewood Senior

Englewood Senior will cater to independent adults aged 62 and over, with 21 units serving seniors earning 30 percent of the average median income and 139 units being reserved for seniors earning 60 percent of AMI.

Set to raise five stories, the community will encompass one- and two-bedroom floorplans ranging from 675 to 950 square feet. Amenities are slated to include gyms, outdoor courtyards, movie theatres, as well as a community room. A 213-space parking deck and a 15,000-square-foot retail space are also planned.

Located at 430 Englewood Ave. SE, the site is 2 miles east of Interstate 85 and 2 miles west of U.S. Route 23. Downtown Atlanta is some 4 miles northeast. The nearby Boulevard Crossing Park provides 5 acres of green space, with another 20 additional acres planned in a future development phase. Southside Trail—a hiking, biking and walking trail—is adjacent to the property.

Part of a master-planned development

Englewood Senior will be the first community to take shape during the Englewood Manor redevelopment’s first phase, estimated at more than $200 million. Phase One will also include a mixed-income multifamily community totaling 200 units, together with 81 for-sale single-family homes and townhomes and 35,000 square feet of retail space.

Built in 1971, Englewood Manor used to include 324 public housing units. In 2007, residents were relocated due to severe physical and social distress. After obtaining HUD’s approval, the local authorities demolished the building in 2009.