Release Date: January 22, 2018
Contact: Sherry Tyler, 206.832.1306, email@example.com
VITUS ACQUIRES HERITAGE STATION, THIRD LOW-INCOME HOUSING PROPERTY IN ATLANTA
National developer partners with local agencies to expand low-income housing for families and seniors
ATLANTA, Ga. – Vitus, a national developer and owner of affordable housing, has announced the purchase of Heritage Station, a multifamily complex in Atlanta’s Pittsburgh neighborhood offering low-income housing to both seniors and families. This is the third acquisition Vitus has made in the Atlanta market in the past 18 months and the developer plans to buy two additional low-income properties in the state of Georgia before the end of 2018.
“Georgia and the City of Atlanta, in particular, are taking a proactive approach to ensure affordable housing is appropriately funded,” said Scott Langan, development director for Vitus. “This market shows great promise because of the progressive policies of the Georgia Department of Community Affairs (DCA) and the Atlanta Housing Authority. We are excited to be partnering with these forward-thinking agencies to build on our previous work and further serve the region.”
Heritage Station joins Vitus’ portfolio of more than 100 properties nationwide. Built in 2007, all 370 of the development’s units are reserved for residents making 60 percent or below median income. Forty percent of the units will be set aside as designated senior housing and the remaining 60 percent will serve as family housing.
The first phase of the project requires minimal upgrades since the property is well-maintained and relatively new. Heritage Station currently offers residents an array of community amenities in addition to well-appointed individual units. Each unit has central air conditioning, ceiling fans, a full-equipped kitchen and a private patio or balcony. The property is also ADA (Americans with Disabilities Act) compliant and units reserved for seniors are furnished with emergency pull cords and accessible bathrooms.
Beyond high-quality apartments, Heritage Station has a number of “active design” features to meet resident needs, encourage healthy living and strengthen the community. These include functional common areas like a business center, laundry facility and library, as well as recreational amenities such as an exercise room, swimming pool, picnic area and theatre. For families, the property also boasts a playground and afterschool program.
Vitus took ownership of Heritage Station on Dec. 14, 2017.
Vitus’ mission is to create positive social impact – one community, one family and one life at a time. As an innovative leader in affordable housing across the nation, Vitus specializes in the preservation of affordable properties in market areas where the need is greatest. With an emphasis on the well-being of its residents, Vitus provides access to healthy choices by offering spaces for physical activity, community gardening, enhanced walkways and stairwells, bicycle storage and a variety of health and wellness programs. These active design elements establish wellness-centered communities that encourage healthy lifestyles. Since 1996, Vitus has developed and/or acquired more than 11,000 units of affordable housing in more than 100 properties, located across 22 states. A combined total of almost 25,000 residents now live in Vitus affordable housing communities across the country. www.vitus.com