Eighty units of affordable senior housing are coming to the Metropolitan Atlanta Rapid Transit Authority (MARTA) Avondale Station transit-oriented development (TOD) area after Columbia Residential and the Decatur Housing Authority (DHA) recently announced they have closed on financing for the homes.
According to MARTA officials, the Georgia Department of Community Affairs, city of Decatur, Decatur Housing Authority and DeKalb County are providing financial support for the new development, which provides housing for residents at a range of incomes below 80 percent of the area median income. The 80 one- and two-bedroom units with amenities is an addition to the 92 affordable senior units built in 2018 and will allow residents direct access to Avondale rail station located at 915 E Ponce de Leon Ave.
In May 2021, MARTA sold the land to Columbia Residential specifically for affordable senior housing given Columbia Residential’s successful delivery of affordable senior units in the first phase, stated MARTA officials. The parcel is one of the two final components of the southside master TOD plan executed by MARTA, Columbia Ventures LLC, Cortland, and the city of Decatur, said officials.
“It remains a challenging capital market environment for new developments,” said MARTA General Manager and CEO Collie Greenwood. “This closing demonstrates investor demand still exists for affordable housing communities near transit, especially when executed by quality developers and supported by local jurisdictional partners.
By offering more equitable access to transit and affordable housing, this development will provide its senior residents with more financial freedom and mobility options.”
The closing at Avondale rail station comes months after officials celebrated the groundbreaking for a 250-unit affordable senior and multifamily development at Kensington Station in Decatur. Officials said building affordable housing close to public transportation hubs encourages…
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