Critical affordable housing is coming to the rapidly developing Reynoldstown community with a $18.5 million bond resolution approved by the Invest Atlanta Board.
“The project is a great example of partnership between public agencies,” said Alan Ferguson, senior vice president of Community Development at Invest Atlanta. “We have land and property owned by Atlanta BeltLine, Atlanta Housing providing the capital structure and Atlanta HomeFlex vouchers to make the units more affordable, as well as Invest Atlanta with the conduit bond financing.”
The Madison at Reynoldstown, located on Memorial Drive, will feature 116 multifamily, mixed-income housing units – 24 of which will be made available at 30% area median income (AMI), 68 at 60% AMI and 24 at 80% AMI. Construction will be complete in 2022, and amenities will include a business center with computer stations, community rooms, fitness center, central laundry facility and access to public transportation.