SCG Development, in cooperation with Hallmark Development Partners and Presbyterian Homes of Georgia, is pleased to announce the closing of two rehabilitation projects, Calvin Court and Philips Tower.
Calvin Court, the preservation of 236 units of affordable housing for seniors, is located at 479 East Ferry Road, NE in the Buckhead neighborhood of Atlanta, Georgia, an area that is highly walkable and proximate to public transit.
Philips Tower, the preservation of 221 units of affordable housing for seniors, is located at 218 East Trinity Place in downtown Decatur, GA, a dense urban area approximately five miles east of downtown Atlanta.
Both high rise buildings, originally constructed in the early 1970s, will be substantially rehabilitated, receiving over $100,000 per unit in renovations. Financing includes FHA insured mortgage loans, 4% LIHTCs (federal and state), and short-term, cash-backed, and tax-exempt bonds from DCA and the Decatur Housing Authority. The properties are further subsidized by long-term HAP contracts, and project-based vouchers.
Renovations began in February 2025 and are schedule to be completed in Summer 2026.
About SCG Development
SCG Development is a privately held real estate development firm focused on creating quality affordable and workforce rental communities that are affordable to the workforce. Our portfolio consists of over 60 properties across the country, including high-rise new construction, adaptive reuse of historic buildings, and the acquisition and rehabilitation of existing apartment communities. www.scgdevelopment.com
