Pennrose and Saint Joseph’s Health System (Mercy Care) recently celebrated the groundbreaking of McAuley Station — formerly McAuley Park Phase I — in the Sweet Auburn district.
The first phase of the comprehensive McAuley Park master planned community will include 170 affordable and workforce housing apartments and 175 parking spaces, at 375 Gartrell Street SE.
McAuley Station will include studio, one-, and two-bedroom apartments. Of the total units, 30 are available for residents earning up to 30 percent of the Area Median Income (AMI), 101 units at 60 percent AMI, and 29 workforce housing units at 80 percent AMI, according to a press release. The remaining ten units will be transitional/respite units for Mercy Care patients.
The master-planned community includes the recently-completed expansion of Mercy Care’s clinic — a 36,000 square-foot expansion that includes a resource center for partner agencies who serve Mercy Care’s population.
The expansion will allow Mercy Care to serve 3,000 more patients per year, many of whom are uninsured or unable to pay for services, according to the release. Once complete, the multi-phase McAuley Park master plan will add 270 affordable family, senior, and workforce units adjacent to Mercy Care, a community health center with a network of integrated primary care and behavioral health clinics and the only local healthcare for the homeless organization.
“Studies show that housing quality, stability, safety, and affordability are directly tied to improved health outcomes,” Amon Martin, regional vice president at Pennrose, said. “We are incredibly proud of our housing and healthcare partnership with Saint Joseph’s Health System to provide Atlanta families with high-quality, affordable housing and increased access to care.”
Residents of McAuley Park will have direct access to Mercy Care medical services providing them with safe and secure housing as well as reliable, affordable healthcare. The brand-new rental community also offers a host of on-site amenities, including a rooftop deck with scenic views of downtown Atlanta, resident lounges, fitness center, and business center. It is located across from the MLK MARTA Station and the MLK Natatorium and Recreation Center providing access to community services.
Leasing for McAuley Station is expected to begin spring 2024. Phase II of the master plan includes 100 units of affordable, independent living for seniors 62 and above.
Financing for the project was provided by $26 million in bonds issued by Invest Atlanta and privately placed with Truist Bank. These bonds will be used as a construction funding for the project. A $30 million of private equity investment by Truist, generated from an allocation of LIHTCs from Georgia’s Department of Community Affairs. DCA contributed $3 million in HOME Loan and $4 million in National Housing Trust Fund Funding. Trinity Health Care provided a $4 million favorable loan to the project and Invest Atlanta provided a $4 million grant through its eastside TAD program. Partners for HOME provided $1.2 million in Grant Funds and Saint Joseph’s provided $4.37 million to support the project’s shared parking deck.
