Marietta officials and developers broke ground this week on Evergreen, a four-story, 64-unit senior living complex at 879 Roswell Street. All 64 units will be affordable senior housing.
The development is being built as a public-private partnership between the Marietta Housing Authority and Prestwick Companies, according to Marietta Today. Boston Capital Finance announced the closing of a taxable affordable loan for the project on Aug. 17. The City of Marietta says all 64 units will be affordable senior housing.
The Georgia Department of Community Affairs is a project partner.
Project Partners
Taylor thanked the project partners.
Mayor Steve Tumlin said, “This project will help meet an important housing need while building on the improvements we have made along the corridor,” according to the same Marietta Today report. The city, housing authority and Prestwick Companies jointly celebrated the groundbreaking, according to a City of Marietta announcement.
Retail, Amenities And A Walkable Corridor
Plans call for ground-floor retail space facing Roswell Street. Boston Capital's project description lists a leasing office, a community room with kitchen, a fitness room, a wellness room, a computer center, a mail room, community laundry, and a covered porch and picnic area among the amenities.
City officials tie Evergreen to the Envision Marietta Livable Centers Initiative study, which calls for transforming the Roswell Street corridor into a more walkable area that links neighborhoods with the stores and services residents use. Officials say the project advances Marietta's broader comprehensive plan to offer housing across different ages, incomes and backgrounds.
Evergreen is not Prestwick's first senior housing effort in Marietta. The Marietta Housing Authority previously partnered with Prestwick Companies on a 74-unit affordable senior development off Cobb Parkway, construction on which was underway as of a 2023 Marietta Daily Journal report, and a separate Marietta Daily Journal report described an earlier Roswell Street proposal from Atlanta-based Prestwick Land Holdings as a four-story, 70-unit development with commercial space fronting the street. Prestwick has said it has developed more than 50 multifamily housing communities and secured more than $1 billion in project financing since 2008, according to the company's own portfolio materials.
