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Pennrose, Atlanta Housing, Project Partners Celebrate Herndon Square Phase II Groundbreaking

Mar 14, 2024


Photo Mar 14 2024, 10 11 08 AM Email

Phase II will add 201 mixed-income apartments to the master-planned redevelopment

Pennrose, Atlanta Housing, the City of Atlanta, Hunt Companies, and Oakwood Development Group celebrated the groundbreaking of Herndon Square Phase II, the second phase of the master-planned, mixed-income redevelopment of the former 12-acre Herndon Homes public housing community. Once complete, Phase II will deliver 201 mixed-income, multifamily units to the site. The new community is expected to begin welcoming residents in the spring of 2026.

Speakers at the groundbreaking ceremony included: Mayor Andre Dickens, City of Atlanta; Byron Amos, Councilman, City of Atlanta; Christopher Nunn, Commissioner, Georgia Department of Community Affairs; Dawn Arnold, COO, Invest Atlanta; Terri Lee, CEO, Atlanta Housing; Shea Johnson, Georgia Field Office Director, U.S. Department of Housing & Urban Development; Larry Stewart, Board Chair, Atlanta Housing; Amon Martin, Regional Vice President, Pennrose, LLC; and Joseph Rheaves, Atlanta Market President, Truist.

Phase II includes 201 brand new apartments, with one-, two-, and three-bedroom units available. The community will feature a mix of 31 market-rate units and 170 affordable Low Income Housing Tax Credit (LIHTC) units, with apartments available for individuals and families at 30% to 80% of the Area Median Income (AMI), roughly $21,450 to $57,200 for a one-person household. Eighty LIHTC units will also be supported by Project-Based Vouchers through Atlanta Housing’s Homeflex program.

Herndon Square Phase II will be close to several new and existing community amenities and commercial centers that are expected to generate more than 5,000 permanent new jobs in the coming years. The development is integrated with the adjacent Science Square, a bio-health and life science campus developed by the Georgia Institute of Technology and Trammell Crow Company, and is near the Georgia World Congress Center, Mercedes-Benz Stadium, Signia by Hilton, Echo Street West Atlanta, the Atlanta Beltline’s Westside Trail, Rodney Cook Sr. Park, and several other public and private investments designed to enhance the surrounding community led by the Westside Future Fund.

Residents will also enjoy robust on-site amenities, including an enclosed parking deck, wellness clinic, fitness center, computer business and learning center, along with an interior courtyard green space, and outdoor covered picnic area to help encourage resident socialization and healthy lifestyles. Additionally, Phase II includes 10,000 square feet of commercial space that is envisioned to connect with Science Square. The sustainable project will be designed to meet EarthCraft Multifamily and ENERGY STAR Certification standards.

“Herndon Square Phase II will have a significant and positive impact on Atlanta’s Historic Westside, providing workforce and deeply affordable housing options for local families and individuals,” said Amon Martin, regional vice president at Pennrose. “By integrating with the neighboring science campus and placing residents in close proximity to local job centers, we hope to expand economic opportunities and outcomes for residents of all incomes.”

“A very important piece of Atlanta’s history is converging with monumental progress today,” said Terri M. Lee, President & CEO of Atlanta Housing. “Herndon Homes was built by Atlanta Housing in 1941, specifically as a housing community for African American families with children. Today, I’m proud to help commemorate a new chapter, full of opportunities for families to thrive, in historic Vine City. Atlanta Housing has already invested over $36 million for Phases I & II, and we remain committed to pouring into this community, keeping it affordable for those in need, and elevating the quality of life for all residents.”

“High-quality housing is just one component of this multi-faceted development,” said Marsha Blunt, president of Pennrose Management Company. “We look forward to working closely with project partners and the local community to provide expansive on-site supportive services to help improve resident quality of life.”

A key component of the Herndon Square development are plans for several critical infrastructure improvements, including a redesigned street grid, modernized streetscapes and updated storm, water, and sewer systems. The capital upgrades are designed to improve both pedestrian and vehicular safety and mobility, while helping to create a sense of place within Herndon Square and the surrounding communities.

The five-phase Herndon Square redevelopment envisions a transformational and high-impact strategy for furthering access to quality affordable housing and fresh food while creating a vibrant, healthy, and sustainable mixed-use, mixed-income community. Notably, in conjunction with Science Square, Herndon Square represents a “National Model” for an equitable Workforce/Affordable Housing & Bio-Health Innovation District.

Once complete, the master plan will include 379 multifamily units across two mid-rise buildings, the 97-unit senior building, 32 townhomes, and a parcel scheduled for a commercial grocery store along Northside Drive. Phase II follows the 2021 opening of Herndon Square Senior, which delivered 97 affordable homes for seniors 62 and older.

Funding for both Herndon Square Phase II and the infrastructure improvements was provided by several public and private partners, including the Georgia Department of Community Affairs (4% Low Income Housing Tax Credits), the Urban Residential Finance Authority of the City of Atlanta (Tax-Exempt Bond Financing), Atlanta Housing (Capital Funding), Invest Atlanta (TAD Infrastructure Funding), Truist Bank (Construction Lending and Federal and State Tax Credit Equity Investor), and Grandbridge Real Estate Capital (Permanent Loan Lender).

With a regional headquarters in Atlanta, Pennrose has experience developing high-quality, supportive-rich affordable housing throughout Georgia and the Southeast region of the country. Most recently, Pennrose and the Memphis Housing Authority celebrated the groundbreaking of Edgeview at Legends Park, a 99-unit, senior affordable housing development in Memphis’ Medical District.