Columbia Residential, Decatur Housing Authority Receive Funding for Affordable Project in Georgia

by Jeff Shaw

DECATUR, Ga. — The Decatur Housing Authority (DHA), in partnership with Columbia Residential, was recently awarded a 9 percent Low-Income Housing Tax Credit (LIHTC) allocation from the Georgia Department of Community Affairs. The move will fund development of Columbia Senior Residences at Decatur East Phase II.

The mixed-income community for seniors age 62 and older will be located adjacent to the Avondale MARTA station in Decatur, just east of Atlanta.

Phase II will deliver 80 units, 70 of which will be affordable to households earning below 60 percent of the area median income (AMI) and 24 of which will be affordable to very low-income households via Project-Based Rental Assistance from DHA. The unit mix will consist of 72 one-bedroom and eight two-bedroom apartments.

Phase I, a 92-unit mixed-income senior community, was completed in 2018.

The development is the first to receive funding support from the city’s East Decatur Tax Allocation District (TAD), a financing mechanism for infrastructure and other public improvements using revenues from the enhanced property tax values from the new development.

Additional gap financing for both phases of Decatur East was provided by DeKalb County Department of Community Development HOME funds, including a $1.6 million secondary mortgage for Phase II.

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