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Atlanta Civic Circle Housing Affordability

Restoration of “uninhabitable” Forest Cove apartments can’t happen without tax credits, owner says

Windows are boarded up, even though people still live at the Forest Cove apartments. (Credit: Google Maps)

Residents of the Southside’s long-neglected Forest Cove apartments will continue living in ramshackle conditions until the property owner can secure financing for the complex’s desperately needed revival.

Millennia Housing Management, the national real estate firm that previously managed the property, purchased the “uninhabitable” 396-unit complex in April from Global Ministries Foundation after years of deterioration and neglect. Millennia plans to spend $56 million — upwards of $140,000 per unit — to restore the dilapidated Section 8 community.

But, according to Millennia officials, Forest Cove’s rebirth won’t be possible unless the Georgia Department of Community Affairs (DCA) approves its application for the 4% low-income housing tax credit that’s key to securing bond financing for construction.

Click here to read the full story on Atlanta Civic Circle.

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