Retreat at Spring Hill
With the Housing Authority of DeKalb County (HADC), HDC created a tax credit partnership in 2017 to purchase Spring Chase II from HADC in order to facilitate the renovation of the property. To fund the $4.2m renovation ($50k per unit) for the property, HDC financed the transaction through tax-exempt bonds and 4% tax credits. The property, an 83 unit senior community (age 55+), was rebranded as Retreat at Spring Hill. The renovation is complete and the property was fully leased in December 2018.