Jun 23

Pennrose and Saint Joseph’s Health System Celebrate Groundbreaking of McAuley Station

(Atlanta, Georgia) Pennrose and Saint Joseph’s Health System (Mercy Care) celebrated the groundbreaking of McAuley Station (formerly McAuley Park Phase I) in the Sweet Auburn district of Atlanta. The first phase of the comprehensive McAuley Park master planned community will include 170 affordable and workforce housing apartments and 175 parking spaces.

Located at 375 Gartrell Street SE, McAuley Station will include studio, one-, and two-bedroom apartments. Of the total units, 30 are available for residents earning up to 30% of the Area Median Income (AMI), 101 units at 60% AMI, and 29 workforce housing units at 80% AMI. The remaining ten units will be transitional/respite units for Mercy Care patients.

Speakers at the groundbreaking ceremony included: Atlanta Mayor Andre Dickens; Liliana Bakhtiari, Councilmember, District 5, Atlanta City Council; D. Eloisa Klementich, CEcD, President & CEO, Invest Atlanta; Amon Martin, Regional Vice President, Pennrose; Kathryn Lawler, Chief Executive Officer, Saint Joseph’s Health System; Sr. Jane Gerety, RSM, Chief Mission Officer, Saint Joseph’s Health System; Tom Andrews, retired past CEO, Saint Joseph’s Health System; Samanta Carvalho, Director for the Office of Community Housing Development, DCA; and Katie Saez, Georgia Regional President, Truist Community Capital.

The master-planned community includes the recently completed expansion of Mercy Care’s clinic space to better serve Atlanta’s low-income population. The 36,000-square-foot expansion also includes a resource center for partner agencies who serve Mercy Care’s population.

The expansion will allow Mercy Care to serve 3,000 more patients per year, many of whom are uninsured or unable to pay for services. Once complete, the multi-phase McAuley Park master plan will add 270 affordable family, senior, and workforce units adjacent to Mercy Care, a community health center with a network of integrated primary care and behavioral health clinics and the only local healthcare for the homeless organization.

“Studies show that housing quality, stability, safety, and affordability are directly tied to improved health outcomes,” said Amon Martin, regional vice president at Pennrose. “We are incredibly proud of our housing and healthcare partnership with Saint Joseph’s Health System to provide Atlanta families with high-quality, affordable housing and increased access to care.”

Saint Joseph’s Health System CEO Kathryn Lawler said, “With this new housing project we continue the mission of the Sisters of Mercy who first came to Atlanta 142 years ago asking ‘how can we ensure Atlanta is a place where all people can thrive?’ Quality housing is essential to good health and we are hopeful that this project is just the first of many investments that recognize this critical connection.”

Residents of McAuley Park will have direct access to Mercy Care medical services providing them with safe and secure housing as well as reliable, affordable healthcare. The brand-new rental community also offers a host of on-site amenities, including a rooftop deck with scenic views of downtown Atlanta, resident lounges, fitness center, and business center. It is located across from the MLK MARTA Station and the MLK Natatorium and Recreation Center providing access to community services.

Georgia is facing a severe housing affordability crisis, with only 39 units of affordable rental housing available for every 100 low-income household according to the National Low Income Housing Coalition. In Atlanta, 96% of Mercy Care patients are in need of affordable housing. Leasing for McAuley Station is expected to begin spring 2024. Phase II of the master plan includes 100 units of affordable, independent living for seniors 62 and above.

Financing for the project was provided by $26 million in bonds issued by Invest Atlanta and privately placed with Truist Bank. These bonds will be used as a construction funding for the project. A $30 million of private equity investment by Truist, generated from an allocation of LIHTCs from Georgia’s Department of Community Affairs. DCA contributed $3 million in HOME Loan and $4 million in National Housing Trust Fund Funding. Trinity Health Care provided a $4 million favorable loan to the project and Invest Atlanta provided a $4 million grant through its eastside TAD program. Partners for HOME provided $1.2 million in Grant Funds and Saint Joseph’s provided $4.37 million to support the project’s shared parking deck.

With a regional office in Atlanta, Pennrose develops high-quality residential communities paired with tailored supportive services throughout Georgia and the Southeast region of the country. Most recently, Pennrose celebrated the grand opening of Gateway Pointe II, a 90-unit mixed-income rental community for families and veterans, and the adjacent Memorial Park.

About Pennrose

With more than 50 years of experience, Pennrose combines quality development and proven management to deliver exceptional lifestyle-centered communities for its residents. With the superior knowledge and unparalleled dedication to get the job done right, Pennrose develops and operates conventional, affordable, mixed-income, and mixed-use communities throughout the United States. For more information visit www.pennrose.com.

About Saint Joseph’s Health System

Saint Joseph’s Health System is the parent company of Mercy Care, Mercy Care Foundation, and Mercy Care Rome. Mercy Care has been a healing presence among Atlanta’s homeless and uninsured since 1985. In 2021,16,000 patients were cared for through over 60,000 visits. Mercy Care’s network of 11 fixed and mobile clinics provided primary care, behavioral health, child and adolescent psychiatry, and dental and vision care as well as an array of critical wrap around services. More than 50% of our patients are experiencing homelessness and nearly 60% are uninsured. For more information, visit mercyatlanta.org.


Posted In Real Estate & Related Services