Pennrose, the City of Warner Robins, and the Development Authority of the City of Warner Robins, Georgia celebrated the groundbreaking of Gateway Pointe II, a 90-unit mixed-income community for families and veterans, and the redevelopment of the adjacent Memorial Park. Part of the Warner Robins Redevelopment Master Plan, Gateway Pointe is a multi-phase, mixed-use development on 15 acres of land owned by the Warner Robins Development Authority near Robins Air Force Base.
Speakers at the event included: Gary Lee, Director, Warner Robins Development Authority; Randy Toms, Mayor, City of Warner Robins; Robbin Gosline, Chairwoman, Warner Robins Development Authority; Larry Curtis, Jr., Vice Chair, Warner Robins Development Authority / Councilman, Post 6; Colonel Patricia Ross, USAF, Retired, Chief Operating Officer, Georgia Veterans Education Career Transition Resource Center (VECTR); Thomas Hunter-James, Head of Sales & Director of Account Management, Public Sector, Aetna, a CVS Health company; Amon Martin, Senior Developer, Pennrose, LLC.
Gateway Pointe II offers one-, two- and three-bedroom units in four, three-story garden-style apartment buildings. The development will be affordable to households at 50% to 60% of the Area Median Income, with 15 units set aside as unrestricted market-rate. In partnership with the adjacent Georgia Veterans Education Career Transition Resource Center (VECTR), five units are reserved for active duty military personnel and veterans as they participate in VECTR programs, such as career counseling, educational coaching, and workforce training.
“We’re thrilled to continue our partnership with the City of Warner Robins and the Development Authority to provide additional high-quality, affordable housing options,” said Amon Martin, Senior Developer at Pennrose. “During a month dedicated to celebrating the service and sacrifice of veterans, we’re proud to support our nation’s heroes with affordable housing that will benefit the entire neighborhood for years to come.”
Gateway Pointe II residents will have access to a host of amenities, including a fitness center, community room, health and wellness room, and outdoor community space. The sustainable development complies with EarthCraft Communities standards and High Performance Building Design criteria. To ensure the development meets neighborhood needs as defined by local residents, Pennrose and the City engaged in a Community Transformation Plan. The plan includes the coordination of local services and resources to increase access to education, job training, housing, healthcare, and transportation. The City also funded infrastructure improvements to create public spaces, enhance curb appeal, and improve vehicle and pedestrian traffic.
Financing for the project includes $3,730,000 of permanent debt from Truist Bank. $13,203,508 of private equity was also used as financing source, of which $7,735,854 was provided by Hunt Capital Partners, LLC through a multi-investor fund, and $5,467,654 was provided by Aetna, a CVS Health company through its investment in the Georgia state tax credits syndicated by Hunt Capital Partners, LLC.
“Providing affordable housing options, as well as access to preventive health and wellness services, can truly have a significant impact on the overall health and wellbeing of the veterans in the Warner Robins community,” said R.J. Briscione, Senior Director, Social Determinants of Health Strategy & Execution, CVS Health. “These individuals have given so much to our country, we feel it is our responsibility to help support them on their path to better health.”
Once complete, the comprehensive Warner Robins Master Plan will include two 90-unit apartment complexes, 15,000 square feet of commercial space, and townhomes situated between VECTR and Memorial Park on Armed Forces Boulevard.
Pennrose has in-depth experience developing affordable residential communities for veterans across the country, including Truman Square in New Jersey and Bensalem Veteran Residences in Pennsylvania.