Talley Street Lofts, a 90 unit condo complex located at the corner of Talley and
Sams Streets is the first new residential housing in the Livable Centers Initiative
(LCI) area. It is a 4 story building with a stucco and brick exterior and metal
accents. The units are 1 bedroom, 1 bedroom with a den & 2 bedrooms with either
1 or 2 baths. The building includes a parking deck, conference room, pool, fitness
room and club room, as well as individual storage units. The complex is one block
from the Avondale MARTA station and two blocks from the new restaurants at East Decatur
Station. There are 15 lifecycle units selling at a reduced price with the other
75 homes selling at market. The price range initially is $119,900 (1 bedroom/1
bath lifecycle) to $219,000 (2 bedroom/2 bath market).
Decatur Housing Authority (DHA) is the developer and has secured $12.4 million in
financing from Fidelity Bank, who purchased the tax exempt bonds issued by the Authority.
A 1.7 acre site was acquired by the Authority in December 2004 in an area designated
by the City to be revitalized and become a residential and retail area. This development
will be the first housing in the area.
Decatur adopted a lifecycle housing ordinance and the Authority’s development was
the first development proposed under its provisions for a density bonus, if there
was a lifecycle component in the development. The Authority’s plan includes resale
restrictions to insure the affordability of the lifecycle units for a period of 10
to 20 years.
Due to a lack of available land and local housing prices the Authority has entered
into the condo development arena to meet Decatur’s housing needs. In Decatur, service
workers such as teachers, police officers and fire fighters can not afford unrenovated
housing, let alone newly constructed housing. DHA is attempting to meet the broad
range of housing needs in Decatur and is working closely with the City in its efforts
to maintain a diverse community.
Furnished models show the units’ potential and the attractive price point for Decatur
has created a lot of interest among potential buyers!
Talley Street Lofts:
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