Source: Miller-Valentine Group / #Multifamily #Apartments
PINE LAKE, GA – The development team of Miller-Valentine Group announced the award of funding for the construction of The Villas at Pine Lake; the development is being funded through a combination of $4.25 million of HOME, 4% tax credits from Georgia's Department of Community Affairs, and $8.5 million in bonds from the Housing Authority of DeKalb County.
With funding in place, The Villas at Pine Lake will begin construction in July 2014 with completion slated for Summer 2015. Serving working families who desire quality affordable housing, the community will include a mix of 96 one, two, and three bedroom apartments complete with energy-efficient features and a multitude of amenities normally found in luxury communities. Rents, however, will be set at affordable rates.
The Villas at Pine Lake will be the centerpiece of The City of Pine Lake’s 2011 statutory redevelopment plan for downtown revitalization. “The level of community support this project has is truly amazing,” stated Brian McGeady, Partner & President of Miller-Valentine Affordable Housing Development. “We’re thrilled to be able to work with the City of Pine Lake on this project.”
The property will include on-site management, a community room for resident events and entertainment, a business center with computer work stations, as well as outdoor living areas.