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New Affordable Housing Complex for Seniors in Chattanooga

Rendering of new affordable housing units in Chattanooga surrounded by greenery

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News Summary

Chattanooga is set to welcome a new affordable housing complex for seniors and individuals with disabilities. Announced on February 17, 2025, the project will provide 200 units exclusively for older adults aged 62 and above. Spearheaded by Standard Communities, the development will be financed by a $38 million bond from the city and aims to address the growing housing shortage in the area. Construction is expected to begin by the end of 2025, pending final approval from the Chattanooga City Council.

Exciting News for Chattanooga Residents: New Affordable Housing Coming Soon!

Hey there, Chattanooga! Gather ’round for some fantastic news that could truly brighten the lives of many in our community. On February 17, 2025, during a meeting of the Health, Educational, and Housing Facility Board, it was announced that a new and affordable housing complex specifically for seniors and individuals with disabilities is set to be built right here in Chattanooga! Can you believe it?

A Much-Needed Housing Solution

As many residents know, Chattanooga has been facing a bit of a dilemma lately—a shortage of affordable housing options for our beloved seniors and people with disabilities. It’s been a growing concern, and finally, it seems some action is being taken! The upcoming project is being spearheaded by Standard Communities, a company out of California that has made a name for itself by providing quality housing across the nation.

What’s in Store?

Here’s the scoop: the proposed housing complex will feature a whopping 200 units designed exclusively for older adults aged 62 and above, as well as older adults living with disabilities. This means that many individuals who have been searching for a cozy new place to call home will soon have that opportunity!

The housing development is set to rise on an undeveloped plot located at 819 Runyan Drive, an area that currently resembles a serene and uncleared forest. How picturesque! Financing for this exciting endeavor will come from a $38 million bond from the city, which showcases the commitment to enhancing our city’s housing options.

About the Units

Now, you might be wondering, who can live in this new complex? The units will be available for those making at or below 60% of the area’s median income. This means that many in our community will finally have access to affordable housing that meets their needs. Imagine finally having a place that feels like home!

The Experts Behind the Project

Standard Communities, known to have over 27,000 apartment units across 21 states—including nearly 11,000 Section 8 housing units—has a track record of successfully managing properties. Thomas Atlee, a representative from the company, revealed that the idea for this project came after discussions about the noticeable lack of one- and two-bedroom options in Chattanooga. It’s clear that they’ve done their homework!

Getting Ready for Construction

The management of the complex will be handled by a dedicated company, which will sign on tenants on a first come, first serve basis. However, some community members expressed concerns that certain demographic groups may not be aware of the application process for low-income housing. This is a key point to address as the project moves forward to ensure everyone has a chance to find a home.

While the preliminary bond approval has been granted by the board, it’s important to note that final approval is still pending from the Chattanooga City Council. Fingers crossed that everything sails smoothly! Construction is anticipated to kick off by the end of 2025, and we can’t wait to see the transformation of that lovely forest area into a vibrant new community.

In Summary

So, there you have it, Chattanooga! An affordable housing complex for our seniors and those with disabilities is coming our way. This is a wonderful step towards addressing the housing crisis in our beloved city, and it’s sure to bring happiness to many. Let’s keep our hopes high and stay tuned for more updates as this project progresses!