REBusinessOnline

Tapestry, Columbia Residential Open $19M Affordable Seniors Housing Community in Decatur, Georgia

DECATUR, GA. — Decatur-based Tapestry Development Group and Atlanta-based Columbia Residential have opened Stride Senior Residences, a $19 million mixed-income seniors housing community in Decatur. The property offers income-restricted and market-rate units, with 80 percent of the residences affordable to seniors at 60 percent of area median income. Currently, 88 of the 90 units are leased, including all the affordable units.

The property is located at 651 Decatur Village Drive, about 2.2 miles north of downtown Decatur. The community is also close to stores, restaurants, professional services options, DeKalb Medical Center, MARTA bus lines and the MARTA Decatur station. Amenities include a shared community park, fenced community garden, movie theater room, fitness center, computer center, community room with a kitchen and free Wi-Fi in common areas.

The new community is situated at Scott Boulevard and North Decatur Road within Decatur Crossing, a 26-acre mixed-use development by Atlanta-based Fuqua Development. Decatur Crossing’s three phases contain approximately 94,000 square feet of commercial space, including three grocery stores, 14,000 square feet of office space and over 950 apartments.

Tapestry Development Group and Columbia Residential assembled the land in December 2017 and broke ground in May 2019. The developers had the Stride project certified under the EarthCraft Communities and EarthCraft Multifamily programs.

In addition to owning and developing the property in partnership with Tapestry, Columbia Residential will serve as the long-term property manager. The project was financed largely through an allocation of 9 percent Low-Income Housing Tax Credits (LIHTC) issued by Georgia Department of Community Affairs (DCA) and Home Investment Partnership (HOME) funds from DeKalb County Community Development.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

Webinars on Demand


Conferences


Subscribe to the newsletter

Read the Digital Editions

Western Affordable Housing Business

Texas Affordable Housing Business

Southeast Affordable Housing Business

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties  

2021 Finance Insight Video Interviews