Co-developers Tapestry Development Group and Columbia Residential have opened Stride Senior Residences, a five-story, 90-unit affordable senior housing project just outside of Decatur, the companies announced on Thursday.
Located in unincorporated DeKalb County at 651 Decatur Village Way, the project is within the 26-acre Decatur Crossing development by Fuqua Development. The $19 million senior housing project will set aside 80 percent of its units for households at or below 60 percent of area median income and is also co-owned by Tapestry and Columbia, which acquired the site in 2017 and broke ground in 2019.
“Decatur’s explosive growth has accelerated the critical need for quality affordable housing and the development of new affordable and mixed income communities,” Tapestry Development President Jon Toppen said in a statement.
The project will include amenities such as a shared community park, fenced community garden, movie theater room, fitness center, computer center, and community room with a kitchen, among other spaces.
It was financed largely through 9-percent federal and state low-income housing tax credits issued by the Georgia Department of Community Affairs and Home Investment Partnership funds from DeKalb County Community Development
“DCA recognizes the growing need for affordability throughout Georgia and the metro Atlanta area and will continue to create policies, deploy sources of funding and explore public-private partnerships which help promote the preservation of affordability in Atlanta and the creation of new affordable units,” DCA Director of Housing Development and Finance Jill Cromartie said in a statement.