Newnan Planning Commission Approves Affordable Senior Living Community
Newnan, GA -- Commercial Real Estate Attorney George Rosenzweig requested the rezoning of 16.85± acres located between Newnan Crossing Bypass and Interstate 85 for Legends of Newnan, a 55+ residential apartment complex offering rents on a sliding scale.
Speaking on behalf of the leading apartment developer, Dominium, Rosenzweig said Legends is consistent with the philosophy of Newnan’s Comprehensive Plan 2016-2036, particularly the community’s desire for senior housing that is safe, connected, affordable and high-quality.
"Retirees living on a fixed income have a few choices in Newnan. They can buy a $400,000 home or live in a $180,000 house that needs a roof every few years or move into an outdated apartment. What we don't have is new construction for the person living on social security, a widow with a nest egg, a 401(k) but no pension. It's not available and we need it."
The Newnan Planning Commission recommended approval of the rezoning request to bring the affordable senior housing development to Coweta County. Legends will be a Section 42 project, which provides tax credits to developers of high-quality affordable housing and allows for reduced rents on a sliding, income-based scale.
The development will feature 202 age-restricted apartments in a modern four-story building with long-term design and community connectivity in mind. Residents will enjoy easy access to shopping, healthcare, and the LINC.