Community Development Digest

Georgia

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$59 Million Financing Deal Closes for Merietta, GA Asset

Bethesda, MD-based Walker & Dunlop Inc. has closed an approximate $59 million combination of bridge and equity financing for Newmarket Business Park, a 471,486 square foot, Class B, multi-tenant office property in Marietta, GA.

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Grassroots Groups Can Apply for Community Development Grants

The fund provides seed grants to new projects, and general or project support to small organizations (with a total organizational budget of $150,000 or less).

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Model Home Opening Signals Final Phase of Development

Atlanta-based Windsong Properties has opened its new -- and probably its last -- model home at Heron Pond, an active adult community in Cherokee County, GA. Located on the pond in the community, the new model is the community’s terrace home design, the Durand. The model signals the beginning of development’s final phase.

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LA Councilman Proposes to Save Existing Affordable Housing Units

Los Angeles Councilman Gil Cedillo (D) is pushing a proposal to use some $9 million in former redevelopment funds to help keep rent and housing costs low for hundreds of residential units in his district. If approved, it could become a model program for adoption by other districts in the city.

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Next-Generation Seniors Community Breaks Ground

Celebration Village is a state-of-the-art, next generation community created to provide older adults an upbeat lifestyle promoting a culture of growth and successful aging. The community includes 114 Independent, 44 Concierge, 55 Assisted Living and 31 Memory Care Apartments on location.

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Free Land Banking Resource Available

A new publication detailing the process for creating new land banks and working with existing land bank authorities is now available as a free download.

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Healthcare Trust to Invest $21M in GA Senior Housing Community

The senior housing community will be a three-story building totaling nearly 85,000 square feet. The community will contain 92 units, with 46 designated as assisted living units and 46 designated as memory care units.

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Atlanta Mayor Presses for Infrastructure Bank

Atlanta Mayor Kasim Reed (D) is pressing state and local policymakers for development of infrastructure banks as a way to encourage public/private partnerships, securing funding for infrastructure projects without relying too heavily on taxpayers.   The mayor's enthusiasm appears to be prompte...

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Georgia Spends One-Third of CDBG Funds to Improve Sewers

Georgia's Department of Community Affairs (DCA) provides more than $36 million in CDBG funds to help finance projects in 74 communities statewide, with more than one-third of the funds going toward sewer improvements. Twenty-seven of the DCA CDBG projects are being used for sewer improvements, work...

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Chicago, Atlanta Absorbing Relocated Voucher Holders

Most Chicago and Atlanta neighborhoods have been able to absorb voucher holders relocated from public housing sites without any negative impact on neighborhoodconditions, according to a new report from The Urban Institute. The report, Public Housing Transformation and Crime: Making the Case for R...

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