The Athens Housing Authority has received $8.6 million in tax credits from the Georgia Department of Community Affairs. The credits, which will be sold to investors to cover construction costs, will cover the costs of the first phase of a massive housing re-development right off Hawthorne Avenue.
Administered by the Athens Housing Authority, Jack R. Wells (known also as Pauldoe) is a 125-unit housing complex for lower-income residents. In its place will be constructed not only public housing units, but also affordable units for low to middle income families and units at market rates. There will also be a mid-rise assisted living facility for seniors with 100 units, scheduled to open in 2014, and a town square and park.
Current residents will move out of their apartments. The AHA will either relocate residents to public housing somewhere else in Athens or issue Section 8 subsidized housing vouchers for use at other locations. AHA will cover all moving costs, both out of Jack R. Wells as well as back in for those returning in a few years.
"This is an exciting time for the Athens Housing Authority as we look to developing a new neighborhood and changing the way affordable housing is provided in our community," said AHA Executive Director Rick Parker in a news release. "The expansion of heathcare systems in Athens and the construction of the Caterpillar plant will require a variety of housing for workers. We look forward to being part of this exciting time."
The local government is pitching in about $700,000 to help pay for infrastructure. The AHA is partnering with Columbia Residential on the project. According to an AHA press release, "The new neighborhood will be developed using tax credits, capital funds from the U.S. Department of Housing and Urban Development, and non-federal funds."
You may also be interested in reading:
AHA to "Transform" Jack R. Wells Public Housing Complex