Atlanta Housing Progresses Bowen Homes Phase I

Financial closing launches community transformation with 151 mixed-income units

ATLANTA, Jan. 3, 2025 /PRNewswire/ -- Atlanta Housing (AH), in collaboration with Invest Atlanta, the City of Atlanta, the Georgia Department of Community Affairs, the U.S. Department of Housing and Urban Development (HUD), and development partner McCormack Baron Salazar, announce the financial closing of Bowen Homes Phase I ("Bowen"). This $63.6 million development marks the first chapter of an ambitious multi-year effort to revitalize the historic Bowen Homes site and the surrounding Brookview Heights and Carey Park neighborhoods, supported by a $40 million HUD Choice Neighborhoods Initiative grant. Located at 1165 Wilkes Circle NW, Bowen Phase 1 will deliver 151 units to Atlanta's housing inventory, with most of them reserved as affordable.

"Bowen is poised to be a national model for neighborhood transformation, an anchor for progress in Carey Park, and a testament to the power of community-focused redevelopment," says Atlanta Housing President and CEO Terri Lee. "This project is about more than housing; it's about empowering people, fostering economic mobility, and ensuring that families have the support they need to succeed for generations to come."

"We are excited with the opportunity to partner with AH and through our joint venture with The Benoit Group and help support the city's goals to produce quality affordable housing," said McCormack Baron Salazar CEO & President Vincent R. Bennett.

The first phase will feature deeply affordable units for families with the greatest need, including 97 units reserved for households earning 60% or below of the Area Median Income (AMI). Ten units will be dedicated to workforce housing—targeted toward essential professionals such as teachers, nurses, and first responders, who are often priced out of the communities they serve. The remaining 44 units will be market-rate, ensuring economic diversity and fostering broader community integration.

Transforming the Neighborhood

Bowen Homes Phase I is the first piece of a larger vision for the Brookview Heights and Carey Park neighborhoods. Atlanta Housing's transformation plan envisions more than 2,000 rental and homeownership units, enhanced greenspaces, sustainable stormwater management, and an improved street network. This mixed-income development will integrate retail and community amenities, aligned with HUD's Choice Neighborhoods Initiative. The redevelopment focuses on three pillars:

• Housing: Creating modern, mixed-income housing tailored to meet diverse needs.
• People: Connecting residents to jobs, education, and healthcare to foster economic mobility.
• Neighborhood: Improving safety, schools, and commercial areas to build a stronger community fabric.

With over $523 million in public and private commitments, this project will catalyze broader revitalization along the Donald Lee Hollowell Parkway and James Jackson Parkway corridors.

The Momentum is Building

Construction will begin in January 2025. At the Bowen site, preparations are already in motion, and bulldozers are in position. Capstone Building Corporation, the general contractor for Phase 1, has begun mobilizing. This early progress reflects the urgency and energy behind this transformation. Completion of Phase 1 is projected for late-2026.

With the redevelopment of Bowen Homes, Atlanta Housing is reimagining the possibilities for affordable housing. This historic site will become a thriving, inclusive community guided by the voices of former residents and neighbors, creating a vibrant space that honors the past while building a brighter future for all.

ABOUT ATLANTA HOUSING

President and Chief Executive Officer Terri M. Lee leads The Housing Authority of the City of Atlanta, Georgia (AH), the largest housing authority in Georgia and one of the largest in the nation. One of 139 Moving to Work (MTW) public housing authorities in America, AH is an industry leader in providing and facilitating affordable housing resources for nearly 27,000 low-income households comprised of approximately 45,000 people, including AH-owned residential communities, tenant-based vouchers, supportive housing, as well as down payment assistance, where innovation leads the approach to making the dream of home ownership attainable for more Atlantans. Programs are funded and regulated by the U.S. Department of Housing and Urban Development.

For more information, visit AH at atlantahousing.org or follow us on Instagram, Twitter, and LinkedIn at @housingatlanta.

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SOURCE Atlanta Housing