On January 7, 2020, Atlanta Mayor Keisha Lance Bottoms joined Atlanta Housing, Invest Atlanta, and other city officials to break ground on the first phase of the highly anticipated Herndon Square project. The $23.9 million, 97-unit development will offer affordable housing to seniors above the age of 62, as well as bringing additional economic activity and jobs to the Westside.
“This is an historic day for Atlanta, the Westside and the English Avenue community,” said Mayor Bottoms. “Thank you to Atlanta Housing and all of our partners for investing in our communities and understanding the importance of alleviating the burden associated with a lack of affordable housing. This Administration will utilize every available tool and resource to continue to create quality, affordable housing for all who call Atlanta home.”
The Hunt Companies and Oakwood Development Group project will be located in the English Avenue neighborhood at 464 Cameron Madison Alexander Blvd. The first phase of Herndon Square will consist of 87 one-bedroom/one-bath apartments and 10 two-bedroom/two-bath apartments, as well as greenspace and retail space. Residents will pay no more than 30 percent of their income towards rent, as 100 percent of the units are covered under a HomeFlex Contract with Atlanta Housing. Amenities will include card access at entry points, health and business centers, and a fitness center.
The future four phases of the project will include varying percentages of market-rate and affordable units. The last phase will consist of 32 for-sale townhome units, seven of which will be available for residents earning less than 120% AMI (area median income).
In remarks, Invest Atlanta’s CEO, Eloisa Klementich, noted that Mayor Bottoms, in her role as Invest Atlanta board chair, is “setting the tone” for Invest Atlanta to continue to find more opportunities to create affordable housing through equitable development projects.
Invest Atlanta supported Herndon Square through $12.4 million in tax-exempt bond financing. Other financing parties include the Georgia Department of Community Affairs, the Westside Future Fund, Hunt Capital Partners, and Atlanta Housing.