Big moves in the Big Peach: Mayor Andre Dickens has announced that the Invest Atlanta Board of Directors is bringing affordable living to hundreds more Atlantans. Approvals from the board's May meetings have green-lit financial backing for the creation and preservation of 444 sweat-equity digs, according to the City of Atlanta's press release. Focused on areas across the Southside, Westside, and Downtown, this is a shot in the arm for community-oriented development and low-income housing.
The city is ramping up efforts to meet an ambitious affordable housing goal, with these projects offering a ray of hope for many residents. Some high-profile developments given the go-ahead involve a mix of new constructions and rehabilitations aimed at bolstering household stability and overall community wealth. Mayor Dickens, who also chairs the Invest Atlanta Board, stated, "Thank you to the board and staff for this significant investment that puts us one step closer to our housing affordability goal and commitment to make Atlanta a city of opportunity for all," as reported by the City of Atlanta’s official website.
Key projects now poised to break ground include Metropolitan Place in the Perkerson neighborhood, earmarked for a monumental $37.5 million tax-exempt loan plus an additional $2.9 million from housing opportunity bond loans. City of Refuge Transformation Center in the historic West End Heights/Bankhead is set to build roots with a $2 million grant from the Beltline TAD increment. Not to be left out, Lewis Crossing's 50-unit development in Castleberry Hill will blossom with a grant of up to $1 million from the Westside TAD Ascension Fund, as detailed on the City of Atlanta's news release.
Yet these are more than just buildings; as Dr. Eloisa Klementich, president and CEO of Invest Atlanta, put it, "These investments are more than housing alone, they are a foundation for building strong inclusive communities." With over 3,640 housing units, including 3,314 affordable units, brought to the closing table since Mayor Dickens’ tenure began, it’s clear that the city envisioned by these initiatives is truly taking shape, as per the City of Atlanta.
For more in-depth skinny on the specifics of these approved projects, including those hammering out 54 new senior living spaces in the heart of Downtown at Trinity United Methodist, civic-minded Atlantans can browse through Invest Atlanta's digital BoardDocs repository. It's all in a day’s work as Atlanta strives towards a 20,000-strong portfolio of affordable housing come 2030, proving that, in this go-round, the city's commitment to keeping a roof over its residents' heads is anything but pie in the sky.
