Decatur Housing Authority receives tax credits to develop Oakhurst propertyA rendering of the proposed redevelopment of the Oakview Road apartments. Photo provided by the Decatur Housing Authority.
The Decatur Housing Authority has received millions of dollars in tax credits to develop property it owns on Oakview Road in Oakhurst.
“The tax credits have an approximate value of $4.7 million dollars as equity in the $5.6 total development,” Decatur Housing Authority Executive Director Doug Faust said. “The award of these tax credits will allow DHA to develop a new community at 1111 Oakview that will become Trinity Walk III with 34 new homes for families in Decatur.”
Faust added, “These 34 units will be a net add to the overall affordable housing units in Decatur as the previous 24 units on the 1111 Oakview site were rebuilt in the Trinity Walk I and II revitalization. Gateway [Manor] had 88 units and the number of units on that site went from 88 to 121 units.”
The Housing Authority has already completed demolition of the Oakview Road site.
“During the work, DHA replaced the City’s failed storm water line from Oakview Road that entered the property at the driveway,” Faust said. “We are growing grass now to stabilize the 1111 Oakview site.”
Construction could start in the spring of 2018, he said.
“With the coming completion of the redevelopment of Trinity Walk and Allen Wilson communities, the Decatur Housing Authority will have revitalized $56 million Affordable Housing in Decatur since 2010,” Faust said.