Atlanta Affordable Sr. Housing Project Closes Financing

The Benoit Group, in partnership with Atlanta Housing, closed project financing for the development of Englewood Senior. The 160-unit affordable independent senior living project marks the first redevelopment phase of a master-planned, mixed-use, multi-phase community on the 30-acre site of the former Englewood Manor public housing site. It should be ready for move-in Q3 2026.

Funding for this $72 million project includes federal and state equity tax credit investments by Raymond James and JP Morgan, a Sterling Bank construction loan, permanent HUD-insured loan financing from Berkadia, Beltline TAD Funds and a secondary priority loan from Atlanta Housing.

Englewood Senior is the first building in Phase I and will reserve rental units for seniors aged 62 and older, earning at or below 60 percent of the Area Median Income (AMI), and will include over $2.5 million in rental subsidies for low-income families using Home Flex vouchers provided by Atlanta Housing.