POOLER, Ga. (WSAV) — City Council officials voted an announced a new development is underway for senior citizens in Pooler on Monday.
Pooler’s council approved an $8 million dollar construction for phase two of the Pinewood Village Senior Apartments. Some are calling it supply and demand since there is a wait list for phase one.
Patrick O’Connor, the attorney representative for Pooler development authority, is responsible for advising them on the issuance of the bonds.
“I think this is a very positive development for the community given the history of this developer and the quality of housing that has been brought to Pooler to fill the need for elderly housing,” O’Connor said.
The city project developer made the evaluation that there is a need for more senior housing within the community.
Once the developer consults with the authorities funding is facilitated and hold all responsibility for the bond payment once received. However, the city is not obligated to pay any money within the tax-exempt bond and the only debtor is the developer.
According to O’Connor, “the cost of the project is simply a function of calculating what it will cost to construct the units.”
In 2014, phase one of the apartments were built along Rogers St. The new development will be located directly next to phase one at the intersection of Rogers St. and east Mell St.
This 60-unit community will house elderly citizen age 55 and older, making it the third senior citizens’ community in Pooler built by the developer.