A major affordable housing project is officially underway in Cave Spring following this weeks groundbreaking ceremony for the redevelopment of The Village. The more than $19 million project will renovate 52 existing affordable homes and add six new units, bringing the development to a total of 58 homes for low- and moderate-income residents.
Northwest Georgia Housing Authority CEO Justin Jones said the project will provide needed improvements while preserving affordable housing in the community.
The project is being funded through a combination of financing sources, including a competitive 9% Low-Income Housing Tax Credit award.
Of the existing units, 20 public housing apartments will transition through HUD’s Rental Assistance Demonstration program, while 32 will continue receiving rental assistance through an existing contract.
NWGHA Board Chair Betty Sue Hickman called the project a major investment in Cave Spring and said the community has a significant need for additional housing.
Construction is expected to begin immediately and take approximately 16 months, with completion projected by the end of 2027.
Two vacant buildings will be demolished during the first phase, allowing construction to move forward without immediately displacing current residents. Approximately 32 families currently live at The Village.
The construction schedule will allow residents to move into completed units before the entire project is finished. The housing authority also plans to assist residents with moving expenses and security deposits when necessary.
