AUGUSTA, Ga. — Walton Communities has received $14.1 million in financing, which the developer will to build an 80-unit affordable seniors housing community in Augusta.
The project is a joint venture between Walton and the Augusta Housing Authority. Financing for the project includes an $8.6 million federal equity investment from SunTrust Community Capital, $3.6 million equity investment from Walton Communities and a $1.9 million loan from Augusta Housing Authority.
The new senior living apartment complex will feature one- and two-bedroom units with a community room, fitness center, and arts and crafts room.
Walton Communities will begin construction in December and expects to complete work by January 2018.