District 11 and the Greenbriar neighborhood will soon have two new affordable housing developments – one being a multifamily, mixed-income housing unit and another targeted for seniors.
The construction of a new, 240-unit, multifamily, mixed-income housing development on Greenbriar Parkway was approved by the Invest Atlanta Board using a $29.5 million tax-exempt loan from the Urban Residential Finance Authority. Affordability ranges from 80% Area Median Income (AMI) to 50% AMI.
The Invest Atlanta Board also approved a $28.5 million tax-exempt loan for the construction of a new, 244-unit senior housing development on Greenbriar Parkway. Affordability ranges from 80% Area Median Income (AMI) to 50% AMI.
“We believe this level of income and this level of units will be tremendously beneficial in terms of supporting other services and retail within the Greenbriar corridor,” said Alan Ferguson, senior vice president of Community Development at Invest Atlanta. “This is a big day for District 11 and the Greenbriar area. It’s bringing a lot of rooftops and a lot of new quality housing to the community.”