A new affordable housing project at 1700 Drayton Street in Savannah will move forward after receiving a competitive 9% Low-Income Housing Tax Credit from the Georgia Department of Community Affairs (DCA). The development, led by the Pinyan/Procida Development Group, is expected to bring 41 affordable apartments to a currently vacant site.
The estimated $20 million project received crucial backing from the City of Savannah through a proposed $1.23 million loan from the Savannah Affordable Housing Fund (SAHF). This commitment helped the application gain additional points and secure its position among the top four out of 20 applicants for the state tax credit. “The DCA’s award of the tax credits for the estimated $20 million project was made possible in large part by the promise of a $1,230,000 Savannah Affordable Housing Fund (SAHF) development loan to be granted if DCA awarded the tax credits,” according to city officials.
Savannah City Council authorized Community Housing Services Agency (CHSA) to provide this SAHF loan during its April 10, 2025 meeting. The funding is expected to attract about $19 million in further investment through tax credits and other sources.
Additional support came from Chatham Savannah Authority for the Homeless (CSAH), which provided 29 project-based rental assistance vouchers. These vouchers will help keep rents affordable for future residents. CSAH also plans to coordinate resident services once tenants move in.
The city originally sold the property at 1700 Drayton Street to Pinyan/Procida Development Group in February 2021 after it was declared surplus and offered through a request for proposals process aimed at creating more affordable housing. This marks the fifth time this year that city leaders have backed an application for such tax credits.
This year, two other projects supported by City Council did not receive tax credit awards. The Sustainable Fellwood Phase 1 proposal aimed to renovate over one hundred affordable units but fell short in scoring. Another plan called Gateway Gardens sought funding for nearly eighty apartments off Wheaton Street but was not selected either.
The DCA’s housing program allocates federal low-income housing tax credits on a yearly competitive basis to promote construction and renovation of affordable homes across Georgia. Meanwhile, SAHF operates as a local resource created by city resolution in November 2011 with community support; it uses no federal funds and is managed by CHSA, which has been active since its founding in 1989 coordinating similar projects.
