ATLANTA, GA — It takes a village to help a community by offering more housing options; that is the Legacy at Herndon Square.
The 201-unit, mixed-income rental development recently opened in downtown Atlanta. Legacy at Herndon Square will also include a 10,000-square-foot commercial property.
Residents may now rent one-, two- and three-bedroom apartments that feature modern kitchens, in-unit asher and dryers, free wi-fi and central A/C, the company said in a news release.
Pennrose Regional Vice President Will Eckstein told Patch the project is a re-development of a former public housing site, Herndon Homes.
Alonzo Herndon was the namesake for Herndon Homes, which was an "aging 12-acre community" that needed revitalizing, Eckstein said.
"There's a long and rich history on the Westside dating back to Alonzo Herndon and the community that was there," Eckstein said.
Becoming the developer for Legacy at Herndon Square was a process that began with Atlanta Housing's request for proposal.
Ultimately, Pennrose was victorious and became the development manager. In addition to Atlanta Housing, Pennrose partnered with Hunt Companies to bring Legacy at Herndon Square to the heart of Atlanta.
It took pulling together resources from various people to establish the property.
Funding came from multiple sources, including the Georgia Department of Community Affairs, Invest Atlanta, the Urban Residential Finance Authority of the City of Atlanta, Truist Bank, Grandbridge Real Estate Capital and Atlanta Housing.
This emphasizes the team effort that it took to transform the residential property for the people of Atlanta. With multiple moving parts, a village came together to build Legacy at Herndon Square.
"It's really us walking arm in arm with all of the partners to bring these tools together," Eckstein said. " ... It's a team effort amongst all of us. ... (It's) an appreciation for the partners and knowing that without those, it couldn't come into fruition."
Now, residents who once lived in Herndon Homes can return to a familiar area.
"We talk about returning the power of housing to the people, and so, that's pretty important," Eckstein said.
Legacy at Herndon Square brings a re-imagination and affordability to the Atlanta community, Eckstein said. Placed between the Georgia Science Square and the Mercedes-Benz Stadium, the development offers market-rate housing for residents of varying incomes while investing in the community, he said.
"It's allowing longterm residents of the neighborhood to be able to stay and not have to transition out as they see the neighborhood changing over the years," he said, "but also giving new folks the chance to move in, to be able to appreciate the history and the legacy of the westside of Atlanta."
There are five phases to opening Legacy at Herndon Square.
When all the phases of Legacy at Herndon Square are completed, Atlanta Housing President and CEO Terri M. Lee said $176 million will be invested into Atlanta's Westside. This includes at least $43 million from Atlanta Housing.
Mixed-income housing, the second phase of Legacy at Herndon Square, is complete. The first phase encompassed establishing age-restricted senior housing, including one- and two-bedroom spaces.
There are plans to construct townhomes for future homeowners, Eckstein said.
The residential property contains an interior courtyard and green space, an enclosed parking deck, resident lounge, wellness clinic, fitness center, computer business and learning center, dog wash station and outdoor covered picnic area.
The price tag for the apartments range based on unit.
For the mixed-income housing, 43 of the apartments are priced at or below the 80 percent area median income, Eckstein said. Additionally, he added 87 units are at or below 60 percent AMI, 40 at or below 30 percent AMI and 30 units that are market-rate units, Eckstein said.
He called the chance to develop this community alongside partners "a real blessing."
"(To) be able to offer below-market rent is just such an opportunity for us, for the residents, for the community and for the City of Atlanta," he said.
To lease an apartment, visit Legacy at Herndon Square at 527 Herndon Square in Atlanta.
"Legacy at Herndon Square is exactly what inclusive economic development looks like," Dr. Eloisa Klementich, president and CEO of Invest Atlanta, said in a news release. "Our continued commitment to multifamily housing is a critical part of our broader economic development strategy, and our investments have contributed to over $360 million of new capital investment in this community."
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