In a flurry of financial closings that capped 2024, Atlanta Housing secured a $60.2 million investment from the Department of Housing and Urban Development (HUD). This investment will enable the agency to undertake the more than $100 million rehabilitation of Cosby Spear Highrise, preserving 282 affordable homes.
Cosby Spear Highrise, originally constructed in 1972, will undergo a comprehensive renovation to bring these homes up to market-rate standards, comparable to the other beautiful senior housing properties in the Atlanta Housing portfolio. This exciting conversion will provide a safe, modern, and welcoming place for seniors to live with dignity. AH’s development partner, Columbia Residential, will lead construction, which will begin this month and is expected to last 26 months.
The rehabilitation will include:
- New roofing, windows, and fencing.
- Fully updated kitchens and bathrooms.
- Modernized electrical panels and HVAC systems.
- Energy-efficient improvements throughout the property.
Atlanta Housing is dedicated to not only providing quality, affordable housing for seniors but also offering services that support and empower them. In 2024 alone, Atlanta Housing completed 1,323 in-home service hours to ensure seniors received personalized support tailored to their needs. Our team also facilitated the delivery of more than 20,580 meals directly to seniors’ homes, addressing both convenience and nutritional well-being. Additionally, we provided individual case management services to 1,760 seniors, helping them navigate resources and access the care they deserve as they live independently in thriving communities.
Building a Future Together
At Atlanta Housing, we believe in the power of partnerships to create lasting change. By building these critical public-private partnerships, AH aims to be the ‘tip of the spear’ for solving housing challenges here in Atlanta.
The investments in this RAD conversion underscore Atlanta Housing and its partners’ commitment to ensuring affordability while delivering thoughtfully developed, high-quality homes designed for senior residents and those who rely on us most.
Stay tuned to @HousingAtlanta on all social channels as AH shares updates on this exciting transformation and continues building a stronger Atlanta.