Advantage Capital has secured $53 million in state low-income housing tax credits to support the development and rehabilitation of three communities in the metro area. These projects will provide over 600 units of affordable housing, with a total cost exceeding $200 million.
Two new residential developments are planned for Southwest Atlanta’s Greenbriar neighborhood. The Flats at Stone Hogan will offer 256 affordable units for households earning less than the area median income, while the Villas at Stone Hogan will have 192 affordable units reserved for lower-income renters aged 55 and older. Both communities, developed by Zimmerman Properties, are estimated to cost around $100 million and $70 million respectively.
In addition to these two new developments, Advantage Capital’s investment will also contribute towards a roughly $20 million revitalization project at Applewood Towers. This redevelopment is expected to be completed by late-2025.
The two new-construction developments along Stone Hogan Connector Road are projected to be finished by mid-2027.
Investor Developing Two New Affordable Housing Projects and Improving One Existing Project in Atlanta Metro Area
Advantage Capital has allocated more than $53 million in state low-income housing tax credits towards supporting the development and renovation of three communities within Atlanta’s metro area. These projects aim to deliver over 600 units of reasonably priced homes with an overall budget surpassing$200million.
Southwest Atlanta’s Greenbriar neighborhood is setto welcome two brand-new residential complexes thanks to this initiative.The first one,the Flats atStoneHogan,is slatedto feature256affordablehousingunitsforfamilieswithincomesthatfallbelowtheareamedianincome.Theseconddevelopment,namelytheVillasatStoneHogan,would consistof192affordableunitsreservedforlower-incomerentersaged55andabove.ZimmermanPropertieswillbeoverseeingthedevelopmentofbothcommunitieswhichareestimatedtocostaround$100millionand$70millionrespectively.
Apartfromtheseexcitingnewdevelopments,AdvantageCapital’sinvestmentwillalsobeusedtowardstheapproximately $20 million revitalization of Applewood Towers. This project is expected to be completed by the end of 2025.
The two new-construction developments along Stone Hogan Connector Road are projected to be finished by mid-2027. With this investment, Advantage Capital is not only developing two new affordable housing projects but also improving an existing one in Atlanta’s metro area.
