30 communities to receive $23.2 million in Housing Tax Credits

Housing tax credits are the primary driver to develop workforce and senior housing across Georgia


Atlanta, GA (November 7, 2017) – The Georgia Department of Community Affairs (DCA) announced today that it will award $23.2 million federal housing tax credits to construct or rehabilitate 30 affordable rental housing properties located throughout the state. The properties, which were selected from 73 applications, include affordable housing for working families, housing for Georgia seniors and housing for persons with disabilities.  The new units are located in both rural and urban areas in the state. They are anticipated to be available for tenant occupancy in late 2019.

 

“Last week, Georgia was named the top state for business for the fifth year in a row,” said DCA Commissioner Christopher Nunn.  “More jobs means a need for more workforce housing.  DCA is proud to help local communities develop affordable housing solutions that fit the character and needs of their communities.”

 

The Housing Credit is Georgia’s main tool to create affordable housing for households that need it most – working families, veterans, people with special needs, seniors, teachers, nurses, firefighters and police. Nearly all affordable apartments built each year are financed through the Housing Credit. In Georgia, the Housing Credit has financed the development of over 150,000 homes, supported over 170,000 jobs, and generated over $16.4 billion in local income and $6.4 billion in tax revenues. The 2017 awards will add 1,783 affordable units to DCA’s affordable housing inventory, bringing the total inventory of units to about 94,000.

 

The estimated economic impact in the initial year of this year’s tax credit award includes more than $221.1 million in local income, over $58.8 million in local government revenue, and nearly 3,031 jobs from construction expenditures. The awards also spur nearly 874 ongoing local jobs each year. The Housing Credit, part of the Tax Reform Act of 1986, has become the most successful affordable rental housing production program in U.S. history, financing the development of nearly 3 million rental homes throughout the nation and providing 7 million low-income families, seniors, veterans, and people with disabilities homes they can afford. 


Georgia developments receiving funding in the 2017 round:

County

City

Development

Affordable Units

Tenancy

Bartow

Cartersville

Brentwood Apartments

70

Senior

Bartow

Cartersville

Havenwood Cartersville

38

Family

Bibb

Macon

Tindall Fields II

65

Family

Chatham

Port Wentworth

Wood Meadow Apartments

72

Family

Chatham

Savannah

Live Oak Landing

63

Senior

Chattooga

Trion

The Breakers at Trion

51

Senior

Clayton

Lovejoy

Madison Heights Phase II

81

Family

Cobb

Marietta

White Circle Phase 3

76

Family

Cobb

Acworth

Abbington Manor

70

Senior

DeKalb

Atlanta

Columbia Fayetteville Apartments

75

Family

DeKalb

Decatur

Scott Boulevard Senior Residences

72

Senior

DeKalb

Atlanta

Grove Gardens

66

Senior

DeKalb

Decatur

Trinity Walk Phase III

27

Family

Dougherty

Albany

The Woodlands

56

Family

Effingham

Rincon

Towne Park Commons

60

Family

Fulton

Atlanta

Quest Commons West

47

Family

Hall

Gainesville

240 Atlanta Street Development Phase 3

52

Family

Hall

Oakwood

Peaks of Oakwood

71

Family

Hart

Hartwell

Chandler Trace

44

Senior

Houston

Warner Robins

Warner Robbins Redevelopment Phase I

59

Family

Houston

Warner Robins

Tupelo Ridge Houston Lake

58

Family

Jackson

Hoschton

Azalea Senior Village

40

Senior

McIntosh

Darien

Sawgrass Cove Apartments

50

Family

Mitchell

Pelham

Hand Trading Company

44

Family

Muscogee

Columbus

Claflin School

44

Family

Muscogee

Columbus

Highland Terrace

102

Senior

Peach

Fort Valley

Vallihi Apartments

50

Senior

Richmond

Augusta

15th Street Development Phase 3

60

Senior

Walker

LaFayette

Abbington at Linwood

60

Family

Walton

Monroe

MainStreet Walton Mill

61

Senior

 


About the Georgia Department of Community Affairs

The Georgia Department of Community Affairs (DCA) partners with communities to create a climate of success for Georgia’s families and businesses through community and economic development, local government assistance, and safe and affordable housing. Using state and federal resources, DCA helps communities spur private job creation, implement planning, develop downtowns, generate affordable housing solutions, and promote volunteerism. DCA also helps qualified low- and moderate-income Georgians buy homes, rent housing, and prevent foreclosure and homelessness. For more information, visit www.dca.ga.gov.

 

CONTACT:

Philip Gilman, Director, Office of Housing Finance

Georgia Department of Community Affairs

(o) 404-679-5277

Philip.Gilman@dca.ga.gov

 

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