Roswell Housing Authority Gets Tax Credit For Redevelopment Project

The Roswell Housing Authority has received a tax credit for a redevelopment project targeted towards residents aged 55 and older.

The agency has received a Low Income Housing Tax Credit financing award from the Georgia Department of Community Affairs to construct the Veranda at Grove Way housing redevelopment project, the city said in a press release.

Veranda at Grove Way will consist of 101 mixed-income senior housing rental units, all of which will be marketed to persons aged 55 and older.

This is the first phase of a four-to-five phase redevelopment of the Roswell Housing Authority 16-acre property located in Roswell’s Grove Way Community and is part of the Grove Way Neighborhood Revitalization Plan.

Construction of the project is set to begin in fall 2015, with its completion slated for 2016. Phase one of the Veranda at Grove Way redevelopment project is estimated to cost $13.6 million.

Roswell Housing Authority Board Chairman Dan Pile said this redevelopment project is important to Roswell’s future.

“Strong communities must have the ability to support affordable housing for those needing assistance as well as those who wish to work and live here,” he added. “This project has significant economic impact as well.”

Pile stated the redevelopment of this property is possible because of a limited partnership between the Roswell Housing Authority and Integral-Macauley & Schmit.

“The best public-private partnerships reflect a mutual commitment to solving a common problem,“ he said. “In this case, the city of Roswell, Integral-Macauley & Schmit and the Housing Authority have created the conditions for change not likely achieved by any one entity.”

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