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27 May 2024

Daily Newsletter

Construction begins on new housing project in Atlanta

The $72m development will offer 160 units catering to residents 62 and above.

Upasana Mukherjee May 24 2024

Atlanta Housing (AH) and The Benoit Group have celebrated the ground-breaking of a new affordable housing project, Englewood Senior, in Georgia, US. 

The ceremony, which marked the commencement of construction of the development, was attended by Engineering Design Technologies, Atlanta City Council, and more. 

Benoit president and CEO Eddy Benoit said: “Although this Englewood development is a mixed-use master-planned community, we are excited to break ground on the Englewood Senior building as the first affordable housing complex for the elderly on the Atlanta BeltLine.” 

The development was originally built as Englewood Manor in 1971, encompassing 324 public housing units.  

These units were demolished in 2009 with approval from the US Department of Housing and Urban Development (HUD) after residents were relocated in 2007 due to the site's deteriorating conditions. 

Located in the Chosewood Park neighbourhood, the new development will cater to older residents aged 62 and above. 

It will offer 160 units for those earning at or below 60% of the HUD's area median income.

Each unit will have HomeFlex vouchers provided by AH.

The development will offer community amenities such as a centralised outdoor courtyard, computer room, fitness centre, and on-site laundry facilities.  

It will also have more than 15,000ft² of retail space. 

AH president and CEO Terri Lee said: “This affordable housing project will make a significant difference in the lives of our senior and legacy residents by giving them the opportunity to live in a community that will offer them best-in-class amenities and an improved quality of life.” 

The funding for the $72m project comes from various sources, including 4% Tax-Exempt Bonds, HUD 221(d)4 loans, BeltLine Tax Allocation District funds, and other federal funds.  

A total of more than $300m will be invested in the project, sourced from public, private, and philanthropic contributions. 

North America Construction Market Overview

GlobalData's latest report explores the different sectors of the construction industry in North America through a detailed investigation of the output values from 2019 to 2028. The North American construction market revenue is projected to reach $2,585.8 billion in 2024 and is expected to grow at a CAGR of >3% by 2028. Continued urbanization, population growth, and the need for modern infrastructure propel demand across residential, commercial, and industrial sectors.

North America Construction Market Overview

GlobalData's latest report explores the different sectors of the construction industry in North America through a detailed investigation of the output values from 2019 to 2028. The North American construction market revenue is projected to reach $2,585.8 billion in 2024 and is expected to grow at a CAGR of >3% by 2028. Continued urbanization, population growth, and the need for modern infrastructure propel demand across residential, commercial, and industrial sectors.

North America Construction Market Overview

GlobalData's latest report explores the different sectors of the construction industry in North America through a detailed investigation of the output values from 2019 to 2028. The North American construction market revenue is projected to reach $2,585.8 billion in 2024 and is expected to grow at a CAGR of >3% by 2028. Continued urbanization, population growth, and the need for modern infrastructure propel demand across residential, commercial, and industrial sectors.

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