A large new senior living facility priced at $70 million is coming to DeKalb County.
The center at 6757 Covington Highway in the city of Stonecrest will have 238 units of one-, two- and three-bedroom apartments, Stonecrest announced last week.
The development, which will be called “Legends at Stonecrest,” will be partially funded by a $40 million bond recently approved by the Stonecrest Housing Authority. The center’s owner and developer, the Beverly J. Searles Foundation, will pay the housing authority back, the city said.
“This is why we developed the Stonecrest Housing Authority, to provide the means for senior development,” Mayor Jason Lary said in a statement. “In Stonecrest, we are focused on providing a better quality of life for those who have given us so much – our seniors.”
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The facility will be for people over 54 with annual incomes between $18,000 and $66,500, the city said. Officials have not provided an estimate or range for the cost of rent.
The residential building will be more than 260,000 square feet. The complex will also include a 14,000-square-foot community center.
Construction is set to begin before the end of the year. Officials did not say when the center could open.
The Searles Foundation has built several other senior living facilities in metro Atlanta, including Antioch Manor Estates in Stone Mountain and Sweetwater Terraces in Duluth. Other developments in Vine City, Mableton and Powder Springs are set to open soon.
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