Henry County approved the use of ARPA funds for affordable senior apartments in Kelleytown. They previously approved a modification of zoning conditions for the project in spring 2022.
The project will build 72 units in a three-story building. It will be located adjacent to the Kelleytown Publix shopping center.
Kelleytown Senior Apartments
Paladin, Inc. of Atlanta, GA first submitted plans in spring 2022 to construct the new senior apartments. They are the project developer. Between then and now, they awaited whether the state would award housing tax credits for the project. In March 2023, Georgia Department of Community Affairs awarded $1.12 million for the project. According to the state, “the housing credit offers a dollar-for-dollar reduction in a taxpayer’s income tax liability in return for making a long-term investment in affordable rental housing.”
On October 17, 2023, Henry County commissioners approved the use of $723 thousand in ARPA funds to assist with construction costs. The county board first considered the use of such funds in April 2022; however, the board did not vote at the time. The ARPA funds will further assist the developer with project costs.
When complete, the project will lease 64 of its 72 units as affordable units. These units have income limits for a senior to rent them. Eight units will have no rent or income restrictions. The unit breakdown is as follows:
- 30 one-bedroom units, and
- 42 two-bedroom units
Affordable apartments must remain rent-controlled for at least twenty years. This is the requirement to receive the housing tax credit. In addition, senior apartments must lease to residents at least 55 years of age or older. In 2022, the project applicant shared their residents are often 75 or older.
Projected rental rates were not readily available at the time of publication.
Featured image shows the concept site plan for Kelleytown Senior Apartments. Paladin Inc. photo.
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