The desperately needed restoration of the Forest Cove apartment complex could finally be on the horizon, project officials say.
On Wednesday, a spokesperson for Forest Cove’s owner and manager Millennia Housing Management (MHM) told Atlanta Civic Circle that the more than $50 million renovation of the 396-unit development could start as soon as January, once financing is closed.
“We are waiting on necessary approvals from the state tax credit issuing agency,” said spokesperson Valerie Jerome, referring to the Georgia Department of Community Affairs. “The agency gives the final approval to get the tax credits, which allows for the final approval of the bonds.”
The planned rehabilitation—which calls for more than $100,000 of work per unit—can’t come soon enough. Tenants have been demanding the overhaul since long before MHM bought the property from the Global Ministries Foundation (GMF) in April.
The property’s renovation requires all current residents to temporarily move to make way for construction crews. In the fall, MHM teamed up with organizations like APD Urban Planning and Management, Atlanta Volunteer Lawyers Foundation (AVLF), Community Foundation for Greater Atlanta, Housing Justice League, Open Doors, and Purpose Built Schools to coordinate the relocations.
“The relocation process continues with residents and partners,” Jerome said. “Households have started to view and select offsite apartments.”
The timeline for completion remains unclear. As Richard Hamlet, CEO of the former property owner GMF, told Atlanta Civic Circle in April, “This thing doesn’t need a Band-Aid; we need surgery.”