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Pennrose, Atlanta Housing, the City of Atlanta and Hunt Cos. have closed on a financing package for the third phase of a multi-part mixed-income multifamily redevelopment in Atlanta. The project, Herndon Square, taking place at the former Herndon Homes public housing community, has secured $73 million in financing for its Phase III construction.

Phase III of Herndon Square is slated for completion in the second quarter of 2027. The site consists of more than 12 acres on the city’s Westside along Northside Drive. It is located approximately 1 mile north of the Atlanta Falcons’ new Mercedes Benz Stadium.