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2008AR-062 Veranda III





2008AR-062 Veranda III
315 Tanner Street S.E.
Atlanta, Georgia 30312
Fulton County


Number of Units:       102

Project Activity:             New Construction

Tenancy:                       Elderly


The Veranda II and Veranda III at Auburn Pointe form part of the revitalization of the former Grady Homes in downtown Atlanta.  Each is a four-story apartment building that provides affordable housing for residents aged 62 and better.  Veranda II will have 98 units and Veranda III will have 102 units, and both will feature amenities such as fitness centers, community rooms and computer centers.  Both projects were awarded Section 42 low income housing tax credits, but were unable to find investors following the financial crisis in 2008 and subsequent economic downturn.

The projects will each create approximately 15 new jobs and maintain approximately 175 jobs.  These jobs are primarily construction related, but also include professional jobs such as architectural and accounting, as well as property management and maintenance jobs.  These jobs allow the various contractors, subcontractors, consultants, designers, and other companies to sustain themselves and their employees during the recession.  The jobs prevent further layoffs and promote hiring.

Both Verandas will be certified through the EarthCraft Multifamily Program for 2006 IECC Climate Zone 3 – Mixed Humid Climate. The EarthCraft Multifamily Program is sponsored by the Southface Energy Institute. Through the EarthCraft Multifamily certification process, the project will also earn ENERGY STAR certification.  By following the EarthCraft Multifamily program, the project will provide benefits to the environment, reduce project maintenance and repair costs, reduce energy usage and resident utility costs, increase the life span of the project and improve the health and quality of future residents. Auburn Pointe will be the first mixed-income community in Atlanta with EarthCraft certified phases such as Veranda II and Veranda III, and it will serve as the sustainable anchor to a newly revitalized corridor in Downtown Atlanta.