Retreat at Spring Hill
With Housing Authority of DeKalb County (HADC), HDC created a tax credit partnership to purchase Spring Chase II from HADC in order to facilitate the renovation of the property. The property, an 83 unit 55+ community that provides housing for older persons, is being rebranded as Retreat at Spring Hill. To fund a $4.2m renovation ($50k per unit) for the property, HDC financed the transaction through tax-exempt bonds and 4% tax credits.
The senior apartment community will be highly amenitized to encourage physical activity, resident socialization and overall healthy lifestyles for seniors. Amenities will include, but are not limited to, a fitness center, business center, community room, outdoor patio and gazebo. The project is scheduled to be completed by late Fall 2018.