This Friday, a long-idle parking lot next to Union City’s shuttered Union Station mall officially trades asphalt for apartments.
Developer Dominium is cutting the ribbon on Shannon Reserve, a 166-unit affordable community geared toward seniors, perched just off Interstate 85 about eight miles southwest of Hartsfield-Jackson Atlanta International Airport.
Grand Opening And What’s Inside
Dominium will host a grand-opening celebration on Friday with remarks, a ribbon-cutting, and apartment tours, according to a company release published by Yield PRO. The project includes a five-story multifamily building plus two four-unit cottages, for a total of 166 apartments.
The project’s website lists a two-bedroom, 995-square-foot floor plan starting at $1,443 per month and notes that the community is income restricted and reserved for renters 55 and older, with details posted on Shannon Reserve.
Public Financing And Rent Rules
Meeting records show the Development Authority of Fulton County approved a final bond resolution authorizing $28,419,000 in federally tax-exempt bonds to help finance the roughly 166-unit senior community, according to the Development Authority of Fulton County.
Reporting also notes the project is backed by the federal Low-Income Housing Tax Credit program, which requires rents to stay tied to Area Median Income levels, and that the property accepts local housing vouchers, per Urbanize Atlanta.
Where It Sits And What’s Coming Nearby
Shannon Reserve occupies a long-empty asphalt lot beside what remains of the old Shannon Mall campus. Part of that former mall now houses Atlanta Metro Studios, where commercial listings describe roughly 135,000 square feet of soundstages and support space, according to CommercialCafe.
Union City, looking to build on that momentum, last fall selected Manhattan Construction Company as construction manager for a 15-acre Reimagine Park project that is planned to feature a bandshell and a 3,000-seat amphitheater.
Why This Matters
Shannon Reserve is part of a larger trend that swaps underused retail sites and sprawling surface parking for housing that serves income-restricted renters and seniors. Dominium has built similar infill affordable projects in the area, and local coverage and planning materials indicate officials hope the new apartments, paired with the future park and nearby film-production work, will help spark more activity along the airport corridor, according to Urbanize Atlanta.
