The Invest Atlanta Board has seized on another opportunity to create and support permanently affordable homeownership by approving a $1.17 million grant from the BeltLine Tax Allocation District (TAD) Increment Fund to the Atlanta Land Trust. This grant will allow for the development of 36 townhomes on Tucker Avenue – 29 of which will be permanently affordable.

The project originally was approved in July 2019 for the creation of 23 townhome units, but according to Anita Allgood, director of Single Family & Homeownership Services for Invest Atlanta, the project team went back to the drawing board, secured a new development partner and created a new site plan that includes additional affordable units.In the first phase of the project, seven units will be offered at market rate to assist in moving the project forward.

The $1.17 million funding request is in line with Atlanta BeltLine funding guidelines at $40,000 per affordable unit and nets an additional six permanently affordable units for a total of 29 permanently affordable units – 18 will be available at 80% Area Median Income (AMI), 11 will be at 100% AMI and seven will be at market rate.

Potential homebuyers who fall within these income ranges also will be eligible for down payment assistance programs from Invest Atlanta, Atlanta Housing and the Atlanta Neighborhood Development Partnership.