The enterprise at 201 Moury Ave. is funded by a private-public partnership comprised of Carver Redevelopment, the Atlanta Housing Authority, city of Atlanta, Urban Residential Finance Authority, SunTrust Bank and the Federal Home Loan Bank.

Also planned at the same site later are another 498 apartment and townhome rental units and 150 single-family homes. Completion is tentatively scheduled for 2005.

"What once was a blighted area is becoming a community where people of diverse backgrounds and income can live side-by-side, raise their families and enjoy a high quality of life," Egbert Perry, chairman/CEO of the Integral Group, says in a prepared statement.

The Villages at Carver will have 48 one-bedroom/one-bath units, sized 733 sf to 780 sf, with monthly rents of $750 to $775; 20 two-bedroom/one-bath units, 900 sf, $900; 88 two-bedroom/two-bath units, 946 sf to 1,150 sf, $950 to $1,100; 60 three-bedroom/two-bath units, 1,142 sf, $1,100; and four four-bedroom/two-bath units, 1,438 sf; $1,300.