The $7.8 Million Revitalization Project Represents Successful Public Private Collaboration in Affordable Housing Development
|WHO:||Atlanta City Councilmember Carla Smith, District 1
Laurel Hart, Director Housing Finance & Development Division, Georgia Department of Community Affairs
Paul Morris, President and Chief Executive Officer, Atlanta BeltLine, Inc.Dr. Eloisa Klementich, President and Chief Executive Officer, Invest Atlanta
Columbus Ward, President of the Peoplestown Revitalization Corporation
Denis Blackburne, Senior Vice President, The Woda Group, Inc.
|WHAT:||Atlanta BeltLine Inc., Invest Atlanta, the Georgia Department of Community Affairs & The Woda Group and Parallel Housing, Inc will host an “Open House” for the newly renovated Stanton Oaks formerly Boynton Village. This $7.8 million rehabilitation project represents part of the Atlanta BeltLine’s commitment to affordable housing within the Atlanta BeltLine Planning Area.
Atlanta BeltLine Inc. and Invest Atlanta were catalytic in this redevelopment by providing a grant from the BeltLine Affordable Housing Trust Fund (BAHTF). The goal of such funds is to promote the creation and preservation of sustainable, affordable housing within the Atlanta BeltLine neighborhoods. Grant funds from BAHTF add a necessary, flexible and unprecedented tool to Atlanta’s affordable housing toolkit. Stanton Oaks was awarded a $800,000 grant from the BAHTF to preserve and renovate to LEED standards the existing Atlanta Beltline affordable housing properties. Stanton Oaks was also awarded $428,000 in Federal and State Low Income Housing Tax Credits (LIHTC) by the Georgia Department of Community Affairs.
Stanton Oaks is the rehabilitation of a 43-unit family apartment complex and is a partnership between The Woda Group Inc., a top 10 nationally-ranked affordable housing developer from Westerville, Ohio, and Parallel Housing Inc. a nonprofit sustainable affordable housing developer from Athens, Georgia.
The rehabilitated Stanton Oaks complex is considered a family project. The project has five 1-bedroom units, eleven 2-bedroom units, twenty-two 3-bedroom units and five 4-bedroom units. The renovated development features numerous amenities for the residents to use and enjoy, including a multipurpose community room, a fully equipped fitness center, a computer center, a laundry facility, an outdoor grilling area and a state of the art tot-lot.
Stanton Oaks obtained a LEED for Homes Gold certification. This year it was also awarded the Fulcrum Award from Southface, Atlanta. Stanton Oaks was also recognized in June of this year in Washington, DC by the Affordable Housing Tax Credit Coalition. Additionally, Stanton Oaks received an Honorable Mention certificate in the HUD Preservation category for this year’s Charles L. Edson Tax Credit Excellence Awards competition.
|WHEN:||Thursday, September 22, 2016
|WHERE:||1054 Linam Avenue, SE
Atlanta, GA 30315