Wednesday, June 27, 2001
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Wednesday, June 27, 2001 |
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PTC creates authority to lower rents at 'upscale' senior apartment complex By JOHN
MUNFORD
To encourage the development of senior-oriented housing in Peachtree City, the City Council has created the Residential Care for the Elderly Authority. The action, which came at last week's council meeting, was requested months ago by the developer of a 144-unit upscale senior apartment complex that will be built at the intersection of south Peachtree Parkway and Crosstown Road. The authority will allow the developer to issue tax-exempt bonds to reduce the average rent at The Parc at Peachtree City by several hundred dollars a month. Council also approved the bond issue at Thursday's meeting, a requirement written into the ordinance creating the authority. The initial authority will consist of all seven members of the Development Authority and two seniors who served on the committee studying the matter: Floy Farr and Jim Steinbach. City Attorney Rick Lindsey said the Residential Care for the Elderly Authority would have to remain in existence until the bonds are retired, but it would not have to meet on a regular basis unless necessary. He recommended approval of the ordinance and of the bond issue proposal so the authority and the developer could get to work on the matter. Councilman Steve Rapson suggested that the elderly facility authority be included in the council's annual retreat planning session. At a previous meeting a representative of the developer said the apartments would remain targeted at seniors even if it fails financially, although it is not expected to fail. Norm Hansen of Prime Communities said the interior apartments will be built with lower cabinets and other amenities that would render them useless for families. The facility will offer a 24-hour on-site emergency medical response team in addition to programming directed specifically at senior citizens. The Parc at Peachtree City is a new type of facility aimed at seniors who can still function normally but no longer wish to live in a home or on their own. This type of senior housing is such a new concept that there are few similar projects in Georgia, Hansen said.
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