Council chose to table the

issue after complaints from council members Annie McMenamin and Carol

Fritz that enough information wasn't available to make a decision.

Mayor Bob Lenox took the blame

for that, saying Prime Communities had approached him about this idea

over a month ago and he should've had them provide more written documentation

for council.

Hansen told council that unless

Prime Communities could get the help with financing, the project wouldn't

be built because the financial risk would be too great. The Seniors Facility

Authority would only issue the bonds, but the bonds would be backed by

the revenue of the facility, he explained.

Prime Communities has shown

plans to the Planning Commission for a 144-unit upscale senior apartment

complex located south of Crosstown Road, adjacent to the Village Park

subdivision. The apartments, which would range from 1-bedroom efficiency

to luxury 2-bedroom units, would be inhabited by seniors 62 years old

and up. The amenities include a dining hall where three meals will be

served daily, on-site security and a bus transportation system.

Hansen said the concept of

upscale senior apartments is new, and he pointed to only two other similar

developments in the metro Atlanta region. But neither one was financed

with bonds issued by a Seniors Facility Authority.

"There's simply not a

lot of this housing around," Hansen said, adding that Prime Communities

has studied the surrounding area vigorously and believes there is enough

of a market for senior upscale apartments within a 10-mile radius of the

location. To break even, the apartments must average around a 77 percent

occupancy, Hansen said.

If council decides to pitch

in, there's a strong possibility that members of the Development Authority

will be asked to serve as the Seniors Facility Authority also. Lenox said

he thought city residents would benefit from having the facility in town

so elderly people would have a place to move and be near family. By appointing

a Seniors Facility Authority, the city could help lower the monthly rent

"so more of our typical city residents will be able to afford it,"

he added.

John Munford

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