The Invest Atlanta board approved $38 million in lease-purchase bond financing for Wingate Companies to develop an additional 124 multifamily affordable rental units at City Lights in the Old Fourth Ward.
The five-story new construction building is located at Boulevard and Parkway Drive and is the second phase of the City Lights affordable development. The affordable units will be available to households earning 60 percent AMI (area median income) or below, and residents will pay no more than 30 percent of their income in rent.
In addition to its proximity to Historic Fourth Ward Park, City Lights is conveniently located near several MARTA bus stops and restaurants. Amenities on the property include a community room, fitness center, business center with computer stations, private courtyard, after school program, central laundry facility on each floor, and access to public transportation.