The Invest Atlanta Housing Committee approved $1.2 million in Housing Opportunity Bond financing for the construction of the 124-unit True Light Haven senior affordable housing development. The Committee took action at their monthly meeting on Thursday, February 14, 2019.
Of the units, 119 will be set aside for seniors 55-years-old and above earning 60% or below the Area Median Income (AMI), and 5 units will be rented to those earning 50% AMI or below.
National Church Residences, in partnership with True Light Baptist Church, is developing the project and will take a holistic approach to ensuring each resident can remain independent with a high quality of life.
“Penelope Neighbors is full of seniors, the area is about 95% seniors,” said Derrick Jordan of National Church Residences. “What we’re going to do here in Atlanta, we have built a new system in the community. We have a service coordinator that will go up to 3-mile radius outside the community and help and assist seniors in that community.”
Once complete, the seniors living at True Life Haven will live near the West Lake MARTA station and have access to amenities including a fitness center, a business center with computer stations, a community garden, and a central laundry facility.
Invest Atlanta has worked with National Church Residencies before. IA provided $3.5 million in tax-exempt bond financing for the 62-unit Betmar Village senior affordable housing development in southwest Atlanta.
“We thank you for helping the community,” said Bill Bozarth, Secretary of the Invest Atlanta Board of Directors. “You’ve done the right things, you’ve been working with the community, and we appreciate that.”