Developer Looking At Toccoa For Apartment Complex
An Alabama development company is looking at a site in the city of Toccoa in order to build an apartment complex for senior citizens.
Monday, the Toccoa City Commission unanimously approved a resolution of support for the project that is called Toccoa Terrace Apartments.
Toccoa Community Development Director Connie Tabor said the developer, Clement and Company of Mobile, Alabama, wants to construct 48 senior apartments on just under eight acres of land located at the intersection of Hayes and East Doyle streets.
“It will be two-story, with two buildings housing 24 units each,” said Tabor of the conceptual plan. “That would be for seniors age 55 plus. It would be in place of a manufactured home park that is located there.”
Tabor said that federal law requires the developer to pay relocation costs for anyone living in the park, adding that nine people currently live there.
According to 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.
She said that the project would be a significant financial investment in the city as well.
“It would be about a $4 million investment that would be made if the tax credits were approved by the Department of Community Affairs,” said Tabor.
She went on to state 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.
Information provided by Tabor also said that 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.