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Henry County OKs MOU giving developer exclusive control to pursue 210-unit senior affordable project on county land
Summary
The Henry County Board of Commissioners approved a memorandum of understanding giving KCG Companies an exclusive control period to plan and pursue financing for a senior affordable housing project on about 10 acres at Phillips Drive and Highway 81; the MOU would lead to a 50-year ground lease if the project secures approvals and funding.
Henry County commissioners on Oct. 21 approved a memorandum of understanding (MOU) that gives KCG Companies an exclusive control period to plan, entitle and seek financing for a proposed senior affordable housing project on approximately 10 acres of county-owned land at Phillips Drive and Highway 81 in McDonough.
The MOU grants KCG the exclusive right to “plan, entitle, and develop the property during this control period, which is until 12/31/2027,” County Attorney CJ told the board, adding that the agreement would be followed by a negotiated 50-year ground lease if the project advances.
The vote followed a presentation by a KCG representative who described the proposal as a 4‑story, elevator-served building with about 210 rental units for…
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