Invest Atlanta Approves $2M Grant for Downtown Senior Housing

The new 65-unit affordable housing community will serve residents 62 and older earning 80% or below area median income.

Published on Feb. 20, 2026

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Invest Atlanta has approved a $2 million grant from the Eastside Tax Allocation District (TAD) to create Five Peachtree Senior, an affordable housing community in downtown Atlanta exclusively for those 62 years and older earning at 80% or below Area Median Income (AMI). The development aims to address the growing need for affordable senior housing while supporting a broader vision to revitalize downtown Atlanta as a vibrant, mixed-income, mixed-use neighborhood.

Why it matters

The Five Peachtree Senior project is a critical part of the city's strategy to bring more residents back to downtown Atlanta and ensure seniors can age in place in a community with access to public transit, healthcare, retail, and other amenities. It aligns with the broader goal of transforming downtown into a thriving, mixed-use district.

The details

The $2 million grant from Invest Atlanta's Eastside Tax Allocation District (TAD) will be used to construct the 65-unit Five Peachtree Senior affordable housing community. The development will be located across the street from the 48-story Two Peachtree building, which the city is converting into adaptive-reuse housing. Five Peachtree Senior will incorporate community spaces designed to promote wellness, accessibility, and social engagement for its residents.

  • Construction is expected to begin in the second quarter of 2026.
  • Completion of the Five Peachtree Senior project is anticipated in November 2027.

The players

Invest Atlanta

The economic development authority for the city of Atlanta, responsible for approving the $2 million grant for the Five Peachtree Senior affordable housing project.

Andre Dickens

The mayor of Atlanta and chair of the Invest Atlanta board, who stated that the Five Peachtree project is a critical part of the city's strategy to revitalize downtown.

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What they’re saying

“Five Peachtree is more than a housing development—it is a critical piece of Downtown's resurgence. 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.”

— Andre Dickens, Mayor of Atlanta, Invest Atlanta Board Chair (Press release)

What’s next

Construction on the Five Peachtree Senior affordable housing project is expected to begin in the second quarter of 2026, with completion anticipated in November 2027.

The takeaway

The approval of the $2 million grant for the Five Peachtree Senior affordable housing development demonstrates Invest Atlanta's and the city's commitment to revitalizing downtown Atlanta by increasing access to quality, mixed-income housing options for the city's senior population.