How JPMorgan Chase and The Integral Group are Transforming a Vacant Lot Into Housing for Seniors in Need

Atlanta’s senior population is expected to double between now and 2040, growing to 1.3 million. At the same time, the area’s suitable housing options for seniors is facing a shortage. To ensure stability for the older adult community in years to come, leading real estate development firm, the Integral Group, recently completed construction of Veranda at Assembly, a 100-unit affordable senior living community for adults 55 and older located in Doraville, Georgia. However, the Veranda at Assembly is more than just housing. 

Under Integral’s leadership, the Assembly site transformed from a vacant, environmentally contaminated lot—where the former General Motors Doraville Plant once stood—into a thriving community that includes apartments, townhomes, office and retail space, a hotel, and other recreational activities. 

To bring this community to life, JPMorgan Chase provided over $35 million in financing to support the housing development. The approximately $45 million project also received additional financing through 9 percent low-income housing tax credits allocated by the Georgia Department of Community Affairs.

“The revitalization of the Assembly property is transforming a once-vacant lot into a bustling neighborhood that will welcome residents and businesses,” said Caitlin Gossens, Executive Director of Community Development Banking at JPMorgan Chase. “Our collaboration with Integral and the many partners involved highlights our strong commitment to providing a safe and secure future for the seniors in the community.”

“For many years, the General Motors site served as the backbone of Doraville’s economy. Its closure not only left a void but also turned the area into an expanse, altering the perception of Doraville as a whole,” said Vicki Lundy Wilbon, President of Development at Integral. “The Veranda at Assembly – the final piece of this master planned development – represents everything that affordable senior housing should be in Atlanta and across the country.”

Now leasing for residents, Veranda at Assembly is designed with affordability in mind: 80 percent of the units, including all the one-bedroom floorplans, are restricted for residents earning up to 30, 50, 60, and 80 percent of the area median income. Each unit is state-of-the-art, featuring granite countertops, kitchen islands, Energy-Star kitchen appliance packages, nine-foot ceilings and emergency call systems. To foster a sense of community, amenities include a café, fitness room, yoga room, outdoor terrace, and dog park.

Commenting on the local landscape, Richard Slaton, Executive Director of Community Development Banking in Atlanta for JPMorgan Chase said, “The metro Atlanta area has faced challenges with affordable housing supply for decades. We are committed to expanding our financing efforts in Georgia and beyond to support the development of affordable housing as stable housing, with access to services, is a basic tenet that afford all individuals the opportunity to thrive.”

JPMorgan Chase and Integral are leading by example, showing the value of community-driven development and how it can meet the needs of residents while bolstering local economic opportunity.