DOUGLASVILLE, Ga. — The Douglas County Board of Commissioners approved a $12 million bond request from the county Housing Authority to build more affordable housing.
According to commission documents, the bond funding will be used to finance part of a development from New Douglasville Proper, LP to finance acquiring, renovating and equipping a roughly 100-unit multifamily affordable housing project on Chicago Avenue.
County documents show the bond was approved on Feb. 17, with the Housing Authority issuing revenue bonds to New Douglasville.
The property, operated by Marietta-based TI Asset Management, is expected to be rehabilitated.
TI Asset Management is active in affordable housing efforts across the metro Atlanta area, including being involved with development of the Melody community in Atlanta and assisting with the evacuation of Forest Cove.
According to the property site listings for Douglasville Proper, the available units range in monthly cost from about $950 to $1,306, with variance based on unit-type and size.
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