IDP Properties, a full-service real estate development firm specializing in high-impact multifamily, mixed-use and hospitality projects across the Southeast, recently announced the grand opening for phase one of Harvest Station, an 80-unit affordable housing community located in Valdosta.

Coinciding with the start of National Affordable Housing Month in May, the development marks a significant victory in the ongoing workforce housing crisis affecting Valdosta and the broader South Georgia region. Located on the city’s south side at the intersection of South Troup Street and Griffin Avenue, Harvest Station offers a variety of affordable one-, two- and three-bedroom apartments ranging from 892- to 1,314-square feet. 

Each unit will feature granite-style Formica countertops, GE appliances, a mixture of carpet and luxury vinyl plank flooring, washer and dryer hookups and spacious walk-in closets. Residential amenities include an outdoor playground, spacious picnic/barbecue area, modernized clubhouse, laundry facilities and secure bike racks. A city park, library and grocery store are all within walking distance of the community.

Harvest Station is the result of a strategic public-private partnership between IDP and Valdosta Housing Authority, with the City of Valdosta also contributing more than $3 million in American Rescue Plan Act funds to purchase the land and fund a development loan. The private enterprise agreement and partnership with VHA and the city allowed the property partnership to enter into a pilot agreement, creating a viable financing vehicle for the project to move forward at a time when many other affordable housing projects are facing significant hurdles to obtain financing due to a combination of rising construction costs, tighter lending conditions and extraordinarily high valuations by property tax assessors in some Georgia counties on affordable housing properties.

According to a recent study by Harvard University, affordable rentals in Georgia declined by more than 67,000 units over a three-year period, the second highest drop among all U.S. states. Another report by Builders Patch shows Georgia has a current deficit of more than 80,000 low-income housing units, with only 76 units available for every 100 households. Lowndes County was graded as severe status due to having one of the highest affordable housing shortages in the entire state, with only three available units for every 100 renters classified as extremely or very low income.

“Harvest Station helps fill a vital gap in rising market demand for affordable housing, and through this public-private model with Valdosta Housing Authority and the City of Valdosta, we are excited to see this property make a positive social and economic impact in the community,” said Rhett Holmes, president of IDP Properties. “IDP will continue to be a proactive partner in supporting and facilitating projects that spur growth and opportunity in Valdosta and beyond. There are valid concerns about the increasing number of obstacles and challenges facing developers who seek to build affordable housing projects, but we have faith that our local governments, state legislators and other key stakeholders will be able to find creative solutions and make the appropriate adjustments so all Georgians can have a safe and secure place to call home.”

Local officials also offered praise for the partnership.

“Our city council and city leadership were committed to addressing the daunting challenge facing every community in America…affordable housing,” said Valdosta Mayor Scott James Matheson. “When the right project and the right partners presented themselves, we matched their dream with ours and produced Harvest Station! Thank you to everyone who put their heart and soul into enhancing the quality of life for so many of our citizens!”

Construction on the project’s second phase will soon be underway, doubling the amount of available units once complete. Harvest Station lies on property that was formerly occupied by aging tobacco warehouses that were dismantled several years ago. The once vacant land is now being put back into commerce in order to provide 160 units of quality affordable housing in south Valdosta.

Valdosta-based IPG Architects is the architect of record on the project. Valdosta-based Great Southern Contractors served as general contractor, with more than 50% of the subcontractors hailing from the South Georgia region. Integrity Management Co., an affiliate of IDP, will handle all property management services for the community.

In addition to funding provided by the City of Valdosta; RBC Community Capital, Bank OZK, Sugar Creek Capital and Centrant Community Capital provided funding resources to Harvest Station Apartments.

IDP Properties has developed more than 2,800 residential units the last 14 years, with projects in multiple markets across Georgia, Florida and Louisiana. For more information on the company, visit idpproperties.com.