The Lenox Affordable Housing Coming to Laney Walker Boulevard
Ground was broken today for a $17.5 million affordable housing development on Laney Walker Boulevard in downtown Augusta.
The Lenox will be a 64-unit apartment building with 25 one-bedroom units and 39 two-bedrooms units, with several containing modifications for those with physical or sight/hearing disabilities.
All units will feature floor plans with plenty of storage, Energy Star appliances, quality cabinetry and luxury vinyl tile flooring. Each apartment will also have a washer/dryer hookup.
Occupancy will be limited to renters who earn 30% to 80% of the area median income or up to $54,880 for a two-person household.
The Lenox will also have community amenities that will include a multipurpose room with a kitchenette, computer room, fitness center, central laundry, and a rooftop terrace offering views of historic downtown Augusta. The ground level will also feature 4,000 square feet of commercial space that will be marketed for retail stores or professional business offices.
The Lenox will help address Augusta’s need for more affordable housing for workforce families, seniors, those with disabilities, and others, while positively transforming a vacant property in downtown Augusta, according to property developer Woda Cooper Companies and Parallel Housing.
The Lenox has History
The Lenox property is named after the former Lenox Theater, a 1921 historic venue that was damaged by fire and eventually torn down in the late 1970s. The neighborhood on Laney Walker Boulevard where The Lenox is being built has had a significant impact in Augusta’s Black history.
Over $12 million in equity financing for the $17.5 million property results from state and federal tax credits from GA DCA. Local support also included a commitment by the City of Augusta to provide a $640,000 HOME loan to the project, in addition to a long-term lease provided by the Augusta Georgia Land Bank Authority at a nominal cost, according to a news release from Woda Cooper Companies.
A target completion date for The Lenox has not been announced yet.
