Vecino Group has secured $11 million in permanent financing for Intrada Westside, a 143-unit mixed-income affordable housing project in Atlanta’s Grove Park neighborhood, the company confirmed with What Now Atlanta.
The project, which has started site work, is scheduled to take 18 months to construct. It will rise on a 7.75-acre site at 2174 Donald Lee Hollowell Parkway.
Missouri-based Vecino Group first submitted plans for the site in 2019. It was issued a demolition permit last year for a roughly 87,000-square-foot commercial structure formerly used as a grocery store on the site.
Vecino Group didn’t immediately respond to request for comment on when it expects the project to deliver, though it did confirm the financing, which was reported as an announcement by commercial real estate finance company Berkadia last week.
Plans on file with the city for Intrada Westside show the project will rise four stories (about 65 feet) and total about 170,000 square feet of gross building area. The project will hold 69 ones-bedrooms, 49 two-bedrooms, and 25 three-bedrooms, with units reserved for households at either 50 percent of area median income or below, 60 percent of AMI or below, or 80 percent of AMI or below. Plans call for 25 units to house homeless people between 18 and 24 years old, according to this month’s announcement.
Intrada Westside will also hold about 9,000 square feet of retail space, as well as residential amenities like fitness areas, a business center, playground, and picnic and outdoor seating areas. The project will provide 173 parking spaces and 33 bicycle spaces.
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Housing projects Part Deux