Ashford Landing, a 117-unit mid-rise affordable apartment development for independent seniors, celebrated its grand opening last week in Atlanta, Georgia. The opening represents the second phase of a multi-phase redevelopment of a new mixed-use community, Brookleigh, on the site of the former Johnson Ferry East public housing project in north DeKalb County. When the entire campus is fully completed, it will have a total of residential units and 70,000 square feet of retail space.
The apartments at Ashford Landing will be one and two bedroom units for seniors 62 years and older. All units are priced to be affordable to lower-income seniors, with rents beginning at $720/month. A range of wellness, educational and other services will be provided to residents by Senior Connections.
The entire 56-acre site, owned by the Housing Authority of DeKalb County (HADC), is being recreated through a public/private partnership as a mixed-use, mixed income community, centered around a central park. Construction is being managed in six phases and at completion in 2012, the property will include apartments for independent seniors, a restaurant-anchored retail village, luxury mid-rise apartments and high-end single family homes and condominiums.
The DeKalb County Housing Authority provided approximately $1.2 million in financing for the building. Debt and Equity Financing were provided by SunTrust Community Development Corp. Tax Credits were provided through the Georgia Department of Community Affairs and Mercy Services is serving as the property manager.
“Although a number of other real estate projects have slowed down or even come to a halt during this economic downturn, the work on Brookleigh has continued,” said Dave Dixon, development partner at the Norsouth Companies, one of the developers involved with the project. “The demand for affordable, yet high-quality independent senior living is very strong,” he said.
The overall site and the senior housing are being developed by the Norsouth Companies and the Collaborative Firm, both of Atlanta, as development partners of HADC. The retail village is being developed by Atlanta-based Madison Retail, LLC.