A $2 million grant from Invest Atlanta will go toward building Five Peachtree Senior, a 65-unit affordable housing community reserved for older residents in the core of Downtown Atlanta. The money is drawn from the Eastside Tax Allocation District, known as the Eastside TAD.
The new community will rise directly across the street from Two Peachtree, the 48-story building that formerly held state offices. The city is converting that tower into housing through adaptive reuse, which means the senior community will have a neighbor that is also being remade for residents. Our earlier coverage of the Two Peachtree conversion has more on that effort.
Who the apartments are for
Eligibility is narrow by design. Only people who are 62 or older can live at Five Peachtree Senior, and their household income must fall at or below 80% of Area Median Income (AMI). Every one of the 65 units falls under those terms.
In a press release, Invest Atlanta described the development as an answer to a growing need for affordable housing for seniors. The agency also tied it to a broader goal: re-establishing Downtown as a neighborhood where people of different incomes live, and where homes sit alongside other uses rather than apart from them.
Mayor Andre Dickens, who is the chair of Invest Atlanta's board, spoke to that larger goal in a statement. “Five Peachtree is more than a housing development—it is a critical piece of Downtown’s resurgence,” Dickens said. “In alignment with our larger strategy for Downtown’s revival, this project reinforces our commitment to bringing residents back to the city’s core and ensuring seniors can age in place in a community that offers connectivity, dignity and opportunity.”
What sits nearby
Future residents will be close to several everyday needs. MARTA transit, healthcare providers and retail are all in the vicinity, along with the Azalea Fresh Market grocery store.
The development will also include shared, community-oriented spaces. Those spaces are intended to support wellness and accessibility and to give residents room for social connection with their neighbors.
Timeline
Construction is slated to start late in the second quarter of 2026. If that schedule holds, the community is expected to be complete sometime in November 2027, giving Downtown 65 more homes set aside for seniors on limited incomes.
Reported by Rough Draft Atlanta.
