Construction is scheduled to begin this fall on the next phase of Walton Oaks, an apartment complex off Sand Bar Ferry Road on the former site of Underwood Homes. When completed about one year from groundbreaking, an additional 106 apartments will be available, said Jacob Oglesby, the executive director of the Augusta Housing Authority.
The housing authority has secured low-income tax credits for the new units, Oglesby said. Final documentation for approval will be submitted to the U.S. Department of Housing and Urban Development this summer.
Work on a tax credit application for the fourth and final phase of Walton Oaks is underway to be submitted next month. If approved, construction on 64 senior housing units could begin in fall 2014, Oglesby said.
“It’s been very successful so far. It was always intended to be a four-phase development,” he said.
The first phase – Legacy at Walton Oaks – opened in October 2011 for residents older than 55. The initial phase targeting families opened last July featuring 75 units, with 14 managed by the Augusta Housing Authority for public housing tenants.
The property, an effort to end Augusta’s concentrations of low-income housing, is developed by Atlanta-based Walton Communities.
The existing family units reached 100 percent leasing occupancy in November, said Melissa Whirledge, the director of marketing for Walton Communities.
Of the 106 family units to be built, 16 will be public housing. Twenty-four will be one-bedroom apartments, 66 two-bedrooms and 16 three-bedrooms.
The units will serve families earning 60 percent or less of the area median income. Tenants must pass credit and background checks.