Developer Changing Plans for Proposed Apartment Complex in Toccoa
An Alabama development company is changing its plans for a proposed apartment complex development in Toccoa.
In March, the Toccoa City Commission unanimously approved a resolution of support for the project that is called Toccoa Terrace Apartments.
At that time, the developer, Clement and Company of Mobile, Alabama, said it wanted to construct 48 senior apartments on just under eight acres of land located at the intersection of Hayes and East Doyle streets.
Now, the developer wants to build family apartments instead of senior apartments.
Earlier this month, the developer requested an amended resolution of support from city commissioners.
Developer Mitchell Davenport said his firm feels the marketplace is better for building family apartments as opposed to senior apartments.
According to Davenport, the 55-and-over demand shows that more than 50 percent of the available residents would have to choose to live there to fill the complex.
“Obviously, that is a very risky venture and not one that anybody would wade in to, nor would the agency allow us to do that,” said Davenport.
Davenport said by changing to a family development, it becomes a project that makes more sense economically.
He said that the plan would still call for 48 total units and most of the design would remain the same.
However, Davenport said the design would be a little different to accommodate families.
“We go from two buildings to three to spread them out a little more and we add a playground and a gazebo as opposed to a walking trail or something else,” said Davenport.
City commissioners approved the amended resolution of support unanimously.
According to Toccoa Community Development Director Connie Tabor, the commission’s resolution supports the developer’s application for tax credits from the Georgia Department of Community Affairs to build the apartments.
Tabor said that the project is contingent on the developer receiving those tax credits. Without the tax credits, the developer would not purchase the property and move forward.
If it does move forward, Tabor said the developer would invest over $4 million in private funds in the project.
The proposed development would replace a manufactured home park that is currently located at the intersection of Hayes and East Doyle streets. Tabor said that federal law requires the developer to pay relocation costs for anyone living in the park, adding that nine people currently lived there as of March.
Tabor added that the project would be similar in scope to Imperial Place on Rose Lane and would be allowed by the property’s current zoning classification.
According to information provided by Tabor, this developer has completed 27 similar projects in the Southeast and if it goes through, the developer would own the property for the next 30 years.