PTC creates authority to lower rents at 'upscale' senior apartment complex

News
Share this Post

PTC creates authority to lower rents at 'upscale' senior apartment complex

News
Share this Post

To encourage

the development of senior-oriented housing in Peachtree City, the City

Council has created the Residential Care for the Elderly Authority.

The action,

which came at last week's council meeting, was requested months ago by

the developer of a 144-unit upscale senior apartment complex that will

be built at the intersection of south Peachtree Parkway and Crosstown

Road. The authority will allow the developer to issue tax-exempt bonds

to reduce the average rent at The Parc at Peachtree City by several hundred

dollars a month.

Council also

approved the bond issue at Thursday's meeting, a requirement written into

the ordinance creating the authority.

The initial

authority will consist of all seven members of the Development Authority

and two seniors who served on the committee studying the matter: Floy

Farr and Jim Steinbach.

City Attorney

Rick Lindsey said the Residential Care for the Elderly Authority would

have to remain in existence until the bonds are retired, but it would

not have to meet on a regular basis unless necessary. He recommended approval

of the ordinance and of the bond issue proposal so the authority and the

developer could get to work on the matter.

Councilman

Steve Rapson suggested that the elderly facility authority be included

in the council's annual retreat planning session.

At a previous

meeting a representative of the developer said the apartments would remain

targeted at seniors even if it fails financially, although it is not expected

to fail. Norm Hansen of Prime Communities said the interior apartments

will be built with lower cabinets and other amenities that would render

them useless for families.

The facility

will offer a 24-hour on-site emergency medical response team in addition

to programming directed specifically at senior citizens. The Parc at Peachtree

City is a new type of facility aimed at seniors who can still function

normally but no longer wish to live in a home or on their own.

This type of

senior housing is such a new concept that there are few similar projects

in Georgia, Hansen said.

Back

to News Home Page |

Stay Up-to-Date on What’s Fun and Important in Fayette

Newsletter

Latest Comments

VIEW ALL
Newsletter
Scroll to Top