How VOA Southeast Is Building Affordable Housing in Georgia
Everyone deserves a safe place to live. That’s why, at VOA Southeast, we don’t just help people find affordable housing; we’re building more of it.
Take Newnan Crossing, a $14.5 million, 74-unit development outside the suburbs of Atlanta, GA, that opened in September, 2022. With rents for one- and two-bedroom apartments priced at under $900 for lower-income adults ages 55 and up, Newnan Crossing is one of 12 multifamily communities that VOA Southeast has helped develop through the federal government’s Low-Income Housing Tax Credit (LIHTC) program.
“It’s such a nice area,” says Kennedy Payne, the Property Manager at Newnan Crossing. “All the amenities in the area are so close for the residents, and I feel like that’s one of the most important things.”
The apartment complex is right next to two major grocery stores, Kroger and Publix, and the Ashley Park open-air shopping center. It’s also near a hospital, the Piedmont Healthcare Center, where many residents go for doctors’ appointments—and where several residents work.
“We have a decent amount of residents who still work, so everyone’s pretty active around here,” Payne said. Newnan Crossing caters to seniors, but the broad age range means many aren’t retired. She mentioned a number of residents also work in the local school system.
The Low-Income Housing Tax Credit Program (LIHTC) in Georgia
The LIHTC program was established in 1986 by the federal government to incentivize private developers and investors to build or rehabilitate affordable rental housing for low- and moderate-income households. Since 2001, Georgia has had a state-level LIHTC program that matches 100% of the federal credits, effectively doubling the incentive for developers. The Georgia Department of Community Affairs (DCA) administers the program.
Income Requirements for Tax Credit Apartments in Georgia
LIHTC properties in the state of Georgia serve households with incomes ranging from 20% to 80% of the Area Median Income (AMI). Specific income limits vary by county and are updated annually by the U.S. Department of Housing and Urban Development (HUD). HUD publishes these income limits here; they typically go into effect around April or May each year.
For example, in Cobb County, Georgia, one of the wealthier counties in the state in the greater Atlanta area, the household income limits for the fiscal year 2024 (which went into effect May 1, 2024) were:
- For a 1-person household: $60,240 (80% of AMI) to $15,060 (20% of AMI)
- For a 4-person household: $86,000 (80% of AMI) to $21,500 (20%)
AMI varies widely depending on the county. To compare, in Randolph County, GA, one of the state’s lower-income counties, the income limits were:
- For a 1-person household: $39,520 (80% of AMI) to $9,880 (20% of AMI)
- For a 4-person household: $56,400 (80% of AMI) to $14,100 (20%)
It’s essential to check the specific income limits for the county where a tax credit apartment is located.
How VOA Draws New LIHTC Developments to Georgia
The LIHTC program was created in order to incentivize private developers to build housing in markets where they were otherwise unlikely to build. VOA Southeast’s LIHTC properties are designed to provide affordable housing for lower- to middle-income residents who are making between 50–60% of the AMI.
New Georgia housing developments often focus on areas that aren’t fully rural but aren’t fully urban either, where the demand for affordable lower- and middle-income housing is the greatest. The age range for residents is also wider than it is for HUD-funded programs: usually 55 years of age and older.
“At the end of the day, no matter what, these projects have to be able to sustain themselves,” said VOA Southeast Director of Project Development Sherry Atchison.
Over the course of applying for LIHTC funding, VOA Southeast and the developers they partner with have to establish the following:
- There’s demand for lower-income housing in the area
- That the rent will be reasonable and affordable but also high enough to maintain the property
- That VOA Southeast will be able to manage the property for at least 15 years
- That the new development benefits and engages the broader community
“One of the things that housing finance authorities have really started emphasizing over the last 3 to 5 years is community transformation,” Atchison said. “They want to connect housing to improving communities and bringing them back to where they were in the past.”
“The whole point is to engage the community on a broader scale than just the housing,” said Atchison. In addition to its 74 units, Newnan Crossing has a wealth of new amenities, including a computer center, a community room for social gatherings, a health and wellness center, outdoor walkways for residents – even a large community garden where residents can grow fruits and vegetables.
Safety and Community for Seniors at Newnan Crossing
Though she’s not outdoorsy herself, Miss Sharlean, a resident at Newnan Crossing, said she enjoys the community garden, which she can see each day from her second-story window.
“It brightens my day,” she says. “It’s pretty out there.”
A lifelong resident of Newnan, GA, and a former homeowner, Miss Sharlean had to give up her job as a district manager at Family Dollar due to a disability and eventually sold her house.
“I had stairs, and the doctor told me I couldn’t manage stairs anymore,” she explained.
For her, the little details make Newnan Crossing a great place for her and other seniors to live.
“It’s quiet. It’s safe. It’s very lit up, so I’m not scared to come in late at night,” she said. “It’s got elevators. I walk with a cane, so that’s a good thing.” She noted that small touches like carpeting on the steps and frequent landings in the stairwell make them easier to navigate if you have to.
Most of all, Miss Sharlean says that the quality of property management makes a huge difference.
“Anything we need, [Kennedy’s] there for us,” she said. “You don’t see that with a lot of property managers. She cares. I was a district manager. I know you’ve got to care for your people for them to care for you.”
Miss Sharlean originally moved into a different apartment building in town but wasn’t satisfied with it. Not only was the rent much higher—nearly $400 more per month for a one-bedroom apartment compared with her current two-bedroom—but the rental company didn’t put effort into upkeep and maintenance.
“They didn’t really care. Anything that happened at that old one, you had to wait. Plus, the rent was ridiculous,” Miss Sharlean explained. “When you’re on a limited income, it’s hard when you get a twelve, thirteen, fourteen thousand dollar rent.”
Newnan Crossing offers several different apartment layouts. One-bedroom apartments are 690 square feet, and two-bedroom apartments are 880 square feet. All units are priced under $900 per month.
“We’re the least expensive [residence] in the area by far,” Payne said. “For the location and the safety of the area, our [rental] prices really can’t be beat.”
Rents like these allow older adults to find safe, supportive communities.
“I love my neighbors,” Miss Sharlean said. “We socialize. We play cards, we do bingo. We set up events for the holidays. We have fish fries. We do it all.”
With two adult children and 12 grandkids, Miss Sharlean often hosts her family for cookouts and other events at the apartment.
“They like it out here,” she said about her grandkids. “They like to go out and look at the garden or sit on the porch and play games.”
In addition to shepherding the initial development, VOA Southeast has committed to providing $50,000 in funds to enhance the broader community around the apartments. VOA Southeast is working with the city of Newnan to determine how those funds will be used, whether it be an afterschool program, improvements for public parks, or services aimed specifically at senior citizens, like funding for a senior center.
And just three hours away, in Tifton, GA, VOA Southeast is developing another property, Magnolia Villas, a $13.2 million 46-unit apartment building slated to open in January 2025.
Donate to VOA Southeast to Help Seniors Live in Safety and Dignity
Everyone deserves a place to call home. At VOA Southeast, we’re committed to ensuring that people from all walks of life can access safe, affordable housing.
Our programs touched the lives of over 54,000 people last year, from seniors and veterans in need to people struggling with addiction and mental health challenges to people living with life-altering physical and developmental disabilities. VOA Southeast’s services help people find the stability and security they need to recover and flourish.
Make a one-time donation or consider giving to us monthly to sustain our work. Every dollar makes a difference!
FAQs About Tax Credit Apartments in Georgia
How Does the Georgia Tax Credit Work?
The Georgia LIHTC program incentivizes developing and rehabilitating affordable rental housing for moderate- to low-income households by allocating tax credits to developers. Developers who receive these credits can then sell them to investors to raise capital for their projects, making affordable housing development financially feasible. In exchange for these tax credits, developers agree to keep the rents affordable for a set period, typically at least 15 and often 30 years, for tenants who meet specific income requirements, ranging from 20% to 80% of the AMI. Georgia’s program is particularly impactful as the state offers a matching state tax credit equal to the federal credit, effectively doubling the incentive for developers to create affordable housing.
What Is a Tax Credit Unit Apartment?
A tax credit unit apartment is a rental apartment within a property that has received funding through the LIHTC program. In exchange for these tax credits, the property owner agrees to reserve a certain percentage of the building’s units for households meeting specific income requirements. These units are rented at below-market rates, making them more affordable for eligible low-income families and individuals. The rent levels for these tax credit units are regulated and cannot exceed a certain percentage of the qualifying income level for the area, ensuring long-term affordability for residents.
How Do I Qualify for Tax Credit Apartments in Georgia?
To be eligible for tax credit apartments in Georgia, you must be at or below a specific percentage of the AMI for the county or metropolitan area where the property is located. These income limits can vary depending on the property and the type of tax credit it received.
Additionally, low-income apartments for rent may have other eligibility criteria, such as conducting credit and criminal background checks on applicants. The Georgia DCA oversees the state’s LIHTC program. While it doesn’t directly process applications for individual units, it allocates the tax credits to developers, who then manage the tenant selection process for their properties.
To find specific properties and their qualification requirements, contact the tax credit apartment complex management company you are interested in. You can also look for available, affordable rental housing options through resources like the Georgia Housing Search website, which may list tax credit properties. Remember that each property may have its own application process and require documentation to verify your income and household size.
Where Can I Find a List of Tax Credit Apartments in Georgia?
Check out this list of affordable housing properties in Georgia operated by VOA Southeast.