Thursday night, the Peachtree City Council will consider a rezoning for a 5.6-acre site next to the Kedron Village shopping center that would allow an age-restricted senior apartment complex. NorSouth Companies of Georgia wants to build a 100-unit development on the site, which is located on Newgate Road.
The rezoning was denied on a 4-1 council vote last June, but apparently the matter has been in negotiation for some period of time, according to a staff memo released earlier this week.
The site is currently zoned limited use residential for a 21-unit “luxury townhome” development that never came to fruition.
NorSouth has pledged to restrict the independent living apartments to persons aged 62 and older.
Last year, the planning commission recommended approval of the rezoning and an associated development agreement.
NorSouth also agreed to a number of conditions including:
• A requirement for NorSouth and all future property owners to follow federal age restriction and verification policies, which include the use of a photo ID listing each residents’ date of birth.
• NorSouth will notify the city of any ownership or management change for the property;
• Provide covered parking for golf carts; and
• Screening of mechanical units.
The apartments are targeting seniors who earn no more than about $30,000 a year, and some have questioned what would happen if the company is unable to fill the complex.
The income limit is set due to a requirement of tax credits allowed for the project that are granted on the construction end to keep rents affordable. Anyone earning more than the income limit can rent one of the apartments at full market price, NorSouth officials have said.
NorSouth representatives have said they have never had a problem finding tenants for its similar properties. The company also has provided a tour of its Atlanta area developments for council members, planning commission members, city staff and the public.
The development would be surrounded on Newgate Road by an existing hotel, car wash, convenience store and gas station, officials said.
The property is owned by Peachtree City Holdings, LLC, a subsidiary of Pathway Communities, which is the successor company of the original developer of Peachtree City.