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Developer looks to expand affordable housing for seniors
Tax credits would be part of revitalization plan
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Located at 1326 Myrtle St. in Gainesville, Myrtle Terraces has 84 units of age-restricted housing. The developer of the senior living homes is hoping the city will authorize a community revitalization plan for the area as a way to help secure tax credits necessary to add more apartment units. - photo by Erin O. Smith
The developer of the Myrtle Terraces senior living homes in Gainesville is hoping the city will authorize a community revitalization plan for the area as a way to help secure tax credits necessary to add more apartment units. “We desperately need help from the city,” said David Searles Jr., of Searles Realty Advisors in Sandy Springs. “Unfortunately, we cannot plan and finance phase two until after such a plan is adopted.”