Phase one of the redevelopment of the former public housing complex off Atlanta Street in Gainesville is quickly nearing completion as framing, siding and windows are put in place.
Beth Brown, executive director of the Gainesville Housing Authority, told The Times recently that applications will be accepted beginning in January, with the first residents moving into the first building come April.
The Housing Authority has partnered with Walton Communities LLC, which has developed similar housing projects in other Georgia cities, to build the mixed-income property known as Walton Summit over three phases with millions of dollars in state tax credits.
The Housing Authority remains the owner of the land, and all interests will revert to it after 15 years.
Phase one will have 84 apartments, with 76 set aside as low-income units, and the second building will likely be ready for occupancy in June, Brown said.
The second phase of construction will include mid-rise units set aside for seniors 62 years of age and older.
Of these 90 apartments, 70 will be classified as low-income units.
Brown said the Housing Authority expects to begin taking applications for these units next summer, with occupancy starting in November 2018.
Brown said about 170 units will be occupied by the end of next year.
Meanwhile, the project was awarded nearly $900,000 in additional state tax credits earlier this month to develop the third phase, which will include 52 units.
Tax credits are the state’s main tool to spur affordable housing development.
According to the Georgia Department of Community Affairs, tax credits have financed the development of more than 150,000 homes, supported more than 170,000 jobs and generated more than $16.4 billion in local income while bringing in about $6.4 billion in tax revenues.
Nearly, 1,800 affordable units will be built with tax credits this year.