Bond Resolution For 116-Unit Dixie Hills Affordable Senior Housing Project To Go Before URFA Board

The Mallory would rise at 251 Anderson Avenue in Northwest Atlanta
Mallory Rendering
Rendering: Official
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The Urban Residential Finance Authority Board of Directors on Thursday will consider a proposed $12.5 million tax-exempt loan for the construction of The Mallory, a planned 116-unit affordable senior housing project in Dixie Hills.

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The developer behind the proposed project, Atlanta-based Prestwick Development Company, filed permit applications for the development in early March, What Now Atlanta reported at the time. Plans then called for two four-story apartment buildings to rise at the project site, which consists of vacant land at 251 Anderson Avenue in Northwest Atlanta.

URFA documents show The Mallory would be completely below market rate, with 20 apartments reserved for households at 50 percent of area median or below, 86 at 60 percent of AMI or below, and 10 at 80 percent of AMI or below.

The developer has a construction timeline of 16 months, with an expected completion sometime next year, according to a project fact sheet.

The unit mix would consist of 105 650-square-foot one-bedrooms and 11 850-square-foot twos. The ones are expected to have rents of $688, $788, and $900, depending on income level.

Amenities would include a community room with a kitchen, along with a fitness center, business center, wellness room, and community garden.

The project fact sheet lists a total development budget of about $25 million.

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Site Plan: Official
The Mallory Apartments
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Photo: Google Maps | An overhead shot of 251 Anderson Ave. NW, where Prestwick Development Company has plans for The Mallory.
Dean Boerner

Dean Boerner

Dean Boerner is a California-based writer previously with Bisnow and the San Francisco Business Times. He received his bachelor's degree in economics and business from Saint Mary's College of California, where he also served as the editor-in-chief of The Collegian, the school's campus newspaper. Before that, he spent two years as the publication's sports editor, and he remains a committed fan, for better or worse, of his Sacramento Kings, San Francisco Giants, and Saint Mary's Gaels.
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