First Phase of Atlanta Old Fourth Ward Affordable Housing Completed
- Dec 20, 2016
Atlanta—Wingate Cos. and Columbia Residential have completed City Lights, an 80-unit affordable senior housing community in Atlanta’s Old Fourth Ward. The property is the first in a multi-phase redevelopment of the Village of Bedford Pine affordable housing community.
The City Lights units, all one-bedroom, are reserved for residents over the age of 62. Common amenities include a sundeck, a community room, fitness center, media room, business center, community-based programs, dining and card tables, Wi-Fi throughout the common areas, and covered parking.
Demand among seniors for affordable housing in the neighborhood resulted in a two-month lease up of the building. JHP Architecture/Urban Design was architect on the project, which Agile Construction built.
As an affordable housing development, City Lights relied on a complex mix of funding. Community Affordable Housing Equity Corp., Sugar Creek Capital, Georgia Department of Community Affairs, the City of Atlanta, Invest Atlanta and HUD all played a part in its financing. Prudential Mortgage Capital Co. provided construction financing.
The new project has already earned accolades, such as the National Association of Home Builders’ “Gold Achievement Award” for Best 55-Over Apartment Home in 2016. Phase II, which was announced at the recent opening ceremony for the first phase, will be a five-story, 96-unit affordable apartment property known as Station 464. It will be across the street from City Lights and not be age-restricted.
Four existing buildings will be torn down to make way Station 464. According to Wingate, construction could start as early as 2017, with no residents displaced during the construction process, because they will then have the opportunity to move into the new building.