2017 LIHTC Development that Best Preserves Existing Affordable Housing
Developer: The Woda Group Inc., and Parallel Housing Inc
The rehabilitation of the former Boynton Village into Stanton Oaks in Atlanta by the Woda Group enabled the rebirth of a community in desperate need of capital improvements to give residents a new home. The redevelopment of the 43-apartment property included coordinating the interests of multiple partners. The property obtained a LEED for Homes Gold certification and received a Charles L. Edson Tax Credit Excellence mention in the HUD preservation category.
“The preservation of existing housing always has a positive impact on any community assuming the rehab is done correctly,” said Bud Clarke, Development of Distinctions judge. “This particular project collaborated with the tenants, the community and was very resourceful at finding several funding sources. We should be particularly proud to see these types of projects being completed in urban communities throughout the United States.”