Brentwood Commons development hopes to bring workforce and affordable housing to the Campbellton Road corridor. The developer, Wendover Group, is requesting a ten-year Pay-As-You-Go property tax reimbursement from Invest Atlanta to move forward with constructing a multifamily housing project.
Up to $2.6 million in property tax reimbursement over ten years is requested for the multifamily project located at 2770 Campbellton Road SW was reviewed by the TAD Project and Policy Review Committee on February 10, 2022. The requested financing will assist in closing the financial gap on the $29.7 million project.
According to information obtained through Invest Atlanta, Brentwood Commons will be a modern 113-unit, 3-story development that will bring housing to the Campbellton Road corridor, revitalizing the Campbellton / Harbin node. The affordable units will rent between $800 and $1,600 monthly. This community will consist of three buildings, be Earthcraft certified, and offer amenities including a business center, picnic area, playgrounds, and exercise room on the 10.40-acre property.
Invest Atlanta documents have listed the benefits of approving the financing, including:
- Activates vacant and obsolete buildings and parking lots, adding affordable and workforce housing along the Campbellton Corridor.
- Directly increases the property tax base in the Campbellton TAD.
- Supported by NPU R and the adjacent neighborhoods.
Documents obtained through Invest Atlanta listed the property’s value with improvements to be $29,659,923, which would generate $527,721 in new property tax dollars yearly. The requested net annual tax reimbursement is $224,725 with a 10-year benefit of $2,590,482.
The estimated project completion will take eighteen months.