Advantage Capital has secured over $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 more than 600 affordable housing units, with a total cost of over $200 million.
Two new residential developments are planned for Southwest Atlanta’s Greenbriar neighborhood. The Flats at Stone Hogan will consist of 256 affordable units for households earning less than the area median income, while the Villas at Stone Hogan will have 192 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 for Applewood Towers.
The redevelopment of Applewood Towers is expected to be completed by late-2025. The two new-construction projects on Stone Hogan Connector Road are projected to finish construction by mid-2027.
