Invest Atlanta joined with our partners to celebrate the April 27 groundbreaking of The Legacy at Vine City, a $20 million, 105-unit affordable housing development for seniors above the age of 62. All residents will pay no more than 30% of their income on rent thanks to assistance from the Atlanta Housing Authority.
“With this new project, people like my mother and my family, can now still have a place,” said Mayor Keisha Lance Bottoms. “As the 60th Mayor of this city and the product of the Vine City and English Avenue community, I say congratulations and the best is yet to come.”
“This project will allow us to have resident retention and it will address the affordable housing needs and concerns that we have in this community,” said Bishop Dexter Johnson of the Higher Ground Empowerment Center Church.
During the ceremony, the audience also heard from city officials and community leaders, including: Councilman Ivory Young, City of Atlanta, District 3; Alan Ferguson of Invest Atlanta; Ms. Catherine Buell, President, Atlanta Housing Authority; Ms. Laurel Hart, Division Director, Georgia Department of Community Affairs; and property developer Mr. Philip Searles, President of the Beverly J. Searles Foundation.
The state-of-the-art Legacy at Vine City community will offer 1- and 2-bedroom affordable apartments for senior living. The Higher Ground Empowerment Center Church (HGECC) is spearheading the development through its community development corporate The Oasis of Vine City, Inc. The Beverly J. Searles Foundation serve as co-developers and will help bring to life the 25-year-old vision of Bishop Johnson.
Invest Atlanta supported The Legacy at Vine City through $10 million in tax-exempt bond financing, as well as a $1 million Vine City Trust Fund loan.
Other key financial supporters included the Atlanta Housing Authority, Cabretta Capital, Community Development Trust, Georgia Department of Community Affairs, and PNC Real Estate.