ATLANTA, GA, UNITED STATES, February 19, 2026 /EINPresswire.com/ — Mayor Andre Dickens today announced that the Invest Atlanta Board of Directors at its February 2026 meeting approved a $2M Eastside TAD Grant for new construction of 65 senior units in the heart of Downtown Atlanta. The Board’s actions are part of an ongoing commitment to address the acute need for affordable housing in the city of Atlanta and create more inclusive communities that cater to all residents.
Five Peachtree Senior, a transformative, 65-unit affordable housing community, is the first phase of development in 2 Peachtree footprint, which will create a mixed-use community that elevates economic activity and residential life in the Five Points area. This project represents a major milestone in the continued revitalization of the Downtown core and builds upon the momentum of nearby redevelopment efforts.
Strategically located on Peachtree Street, the 62 years and older community will provide high-quality, income-restricted housing designed specifically to serve seniors earning at 80% or below Area Median Income (AMI). The development addresses the growing need for affordable senior housing while supporting a broader vision to reestablish Downtown Atlanta as a vibrant, mixed-income, mixed-use neighborhood.
“5 Peachtree is more than a housing development—it is a critical piece of Downtown’s resurgence,” said Mayor Andre Dickens who serves as Invest Atlanta Board Chair. “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.”
The project complements ongoing revitalization efforts, strengthening Peachtree Street as a residential corridor, and supporting the City’s efforts to convert underutilized and office-dominant properties into housing. Together, these developments represent a coordinated approach to increase Downtown’s residential density, activate street-level activity, and support local businesses.
“Many seniors enjoy city living for the convenience and a walkable lifestyle that keeps them active and socially connected,” said Dr. Eloisa Klementich, CEO of Invest Atlanta. “At its heart, this development is creating a place our seniors can truly call home by bringing affordable housing to Downtown. Every new affordable home represents stability and opportunity, and this project is part of the more than 5,000 affordable housing units underway. This effort is not just strengthening Downtown’s economy; it’s ensuring that its growth includes all of the people who make Atlanta great.”
Residents of 5 Peachtree will benefit from proximity to MARTA transit, healthcare providers, retail, an adjacent Azalea Fresh Market grocery, and cultural institutions, offering seniors convenient access to essential services and amenities. The development will also incorporate community-oriented spaces designed to promote wellness, accessibility, and social engagement.
As Atlanta continues to address housing affordability challenges and reimagine the future of its Downtown, 5 Peachtree stands as a model of inclusive redevelopment—prioritizing seniors while strengthening the economic and social fabric of the city’s core.
Construction is expected to begin late in the second quarter of 2026 with completion anticipated sometime in November 2027.
For more information about 5 Peachtree and Invest Atlanta’s affordable housing initiatives, click here.
About Invest Atlanta
To advance Atlanta’s global competitiveness by growing a strong economy, building vibrant communities, and increasing economic prosperity for all Atlantans.
Katrina Highsmith-Johnson
Invest Atlanta
email us here
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