ALBANY, GA (WALB) – An affordable apartment complex for seniors is a step closer to being built in Lee County.
The Department of Community Affairs has given approval for construction east of CVS pharmacy on Forrester Parkway. The 50-plus apartment community called Forrester Senior Village will be for people 55 and older. The development manager, Peachtree Housing Partners will use tax credits to help finance the six million dollars project.
"Funding comes through way of tax credits that are issued by the Department of Community Affairs. Those tax credits are a lengthy process to file and get approved because there are so many projects that are vying for the same money and in this market money's been tight obviously," William Hancock, Webb Properties.
Construction is expected to begin in the second quarter of this year and the project could take up to a year to complete. The addition of the residential development to Forrester Parkway could also help spark additional retail development along Highway 19 at Forrester Parkway.