Pennrose team closes on financing for the third phase of Herndon Square

Pennrose, Atlanta Housing, the City of Atlanta, and Hunt Companies have closed on financing for Herndon Square Phase III, the third phase the transformative redevelopment of the 12-acres site of the former Herndon Homes public housing site in Atlanta, GA.

Once complete, Phase III will deliver 178 one-, two-, and three-bedroom units to the site, distributed as a mix of 27 market-rate units and 151 affordable Low Income Housing Tax Credit (LIHTC) units, available to families at 30% to 80% of the Area Median Income (AMI). Seventy-one LIHTC units will be supported by Project-Based Vouchers through Atlanta Housing’s Homeflex program.

Thriven Design provided master planning for Herndon Homes in 2020, and is currently providing architecture and engineering services for Phases, II and III.