Waynesboro Senior Homes in Waynesboro GA, a new affordable single family rental home subdivision has begun construction

Hammond Development acquired Old Waynesboro High School located in the Waynesboro Downtown Historic District in late September and began renovation and construction in October of Waynesboro Senior Homes, a 39-unit Senior (62+) community consisting of one and two-bedroom units with a many community amenities as well as on-site management. Equity for the project was raised through the sale of state and federal Low Income Housing Tax Credits administered by the Georgia Department of Community Affairs and syndicated by Affordable Equity Partners of Columbia, MO. Construction loan is being provided by Sterling Bank. General Construction, Inc. is the General Contractor based out of Norcross, GA. Apartments will begin leasing in the 2nd quarter with completion of the project in late summer 2011