Another project with an emphasis on affordable housing is moving forward in the shadow of downtown to help provide viable living options for seniors within an easy walk of MARTA transit, according to developers and their partners.
The second and final phase of Sweet Auburn’s McAuley Park project will provide 96 units of senior housing for residents age 55 and over at 300 Chamberlain Street, just south of Edgewood Avenue and east of downtown Atlanta.
The property in question has long been home to a fenced-off, grassy field and small surface lots—and little else. Plans call for studio and one-bedroom rentals to replace that, with the majority being reserved as “deeply affordable” for decades, according to Invest Atlanta.
Pennrose; via Invest Atlanta
Planned facade of the 300 Chamberlain St. SE building on a corner lot. Pennrose; via Invest Atlanta
The initial phase of the joint venture between developer Pennrose and Saint Joseph’s Health System has taken shape on a block immediately to the south, offering 170 units and a 311-space parking deck that serves both residents and the expended Mercy Care clinic next door.
In terms of amenities, the second McAuley Park phase is expected to include a clubhouse with community meeting rooms, a gym, a business center with computers, picnic areas and a gazebo, and a program called CORES Certified Supportive Services for Senior Tenancy.
According to an Invest Atlanta summary, the project will “improve health outcomes and decrease healthcare costs” for underserved populations, eliminate blight, help stabilize the neighborhood, supply workforce housing, and aid in the city’s “economic mobility initiative by providing access to flexible, affordable housing 0.4 miles from [the King Memorial] MARTA rail station.”
Pennrose; via Invest Atlanta
Pennrose; via Invest Atlanta
Just 10 of the units would rent for market rate, which project leaders expect to be $1,185 monthly for one-bedroom apartments with 520 square feet.
The rest would be reserved for tenants earning 50 to 60 percent of the area median income or less. That would translate to monthly rents of between $843 and $1,085, per Invest Atlanta.
The affordability component is expected to be in place for 30 years. Total construction costs are estimated at $25.6 million.
According to Invest Atlanta, construction on the final McAuley Park phase will take roughly 18 months, meaning the project will open sometime in 2024. The agency plans to contribute $1.5 million in the form of an Eastside TAD ascension fund grant, alongside federal and state tax breaks.
Invest Atlanta
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