Fifth Third Bank, which has several locations in the Marietta and Kennesaw area, announced its president and CEO Hal Clemmer will be joined by Georgia Department of Community Affairs Commissioner Camilla Knowles, National Church Residences president/CEO Mark Ricketts and key stakeholders on Tuesday at 11 a.m. for the official grand opening of Panola Gardens.

Dozens of abandoned lots along Snapfinger Woods Place in downtown Lithonia have now become Panola Gardens, a new affordable apartment community for senior residents. The project was made possible by a $7.8 million investment by the Fifth Third Community Development Corporation, a wholly-owned, indirect subsidiary of Fifth Third Bancorp. The CDC was created to invest in projects throughout the company’s markets that create affordable housing, revitalize business and residential areas, and preserve historic landmarks.  In 2014, the Fifth Third CDC invested $218 million in redevelopment projects throughout the bank’s footprint.

“Fifth Third Bank is proud to invest in an important community project like Panola Gardens,” said Clemmer. “We are helping to fill the community gaps in affordable housing and directly address the need for affordable apartment homes for independent residents, over the age 62 in the southeast Atlanta area.”

Panola Gardens is a Low-Income Housing Tax Credit project that will create 84 affordable garden-style apartment units for senior residents, ages 62 and up, earning 60-percent or less of the area median income.

“The opening of the Panola Gardens development for senior citizens, with access to medical care and with the creation of a home-like environment for its residents, is an ideal example of our focus at the Georgia Department of Community Affairs. Through our DCA Housing Division and the benefit of the Low Income Housing Tax Credit we offer, safe and affordable housing options are available to all Georgians,” said Knowles.

The property consists of 84 one-bedroom units, about 660 square feet, and a two-bedroom 800-square-foot manager’s unit.  All units have one bathroom.  Apartment unit amenities are composed of a refrigerator, range/oven, dishwasher, garbage disposal, microwave, washer/dryer hook ups, split system air conditioning, ceiling fans, window coverings, intercoms and e-call systems for safety and security. Five units are fully accessible to persons with mobility impairments, including roll-in showers and two units are equipped for persons with hearing and visual impairments. The design and construction followed the U.S. Green Council’s “Leed for Homes” standards for environmental sustainability.    

The project is 1.5 miles from the Lou Walker Senior Center, a community center that serves more than 3,500 adults 55 years and older per day.

Panola Gardens is also partnering with JenCare to provide on site primary medical care to residents and community members. This unique collaboration provides residents with accessible medical care, and lower state and federal health care costs.