The Invest Atlanta Board approved four Tax Allocation District (TAD) resolutions that will create 166 housing units – 150 of which will be affordable at 30%-80% area median income (AMI). The projects will activate underutilized land and stimulate additional economic investment in the English Avenue, Vine City and Riverside neighborhoods.
“An Atlanta for all is one that prioritizes healthy, thriving neighborhoods that benefit residents and communities throughout the city,” says Atlanta Mayor Andre Dickens, who also serves as the Board Chair of Invest Atlanta. “Strategically using TAD funding, along with innovative partnerships with the faith community and private and nonprofit sectors, not only helps to meet our affordable housing commitment, but also brings new quality housing that spurs additional investment in these neighborhoods.”
The $8.5 million in approved TAD funding will leverage an additional $53 million in new private affordable housing investment.
172 Vine Street
A $2.5 million Westside TAD grant will help Good Places Development and Collaborative Housing Solutions, in partnership with Cosmopolitan AME Church, develop 70 units of mixed-income housing in Vine City. The development will repurpose underutilized parking and open space owned by the church.
The Kennedy at Riverside
A $2.5 million Perry Bolton TAD grant will assist Radiant Development Partners as it builds a 50-unit, family-focused community in the Riverside neighborhood in the Upper Westside of Atlanta.
Sunset Avenue
A $2.5 million Westside TAD grant will support The Westside Future Fund as it transforms vacant land and blight in the English Avenue neighborhood. The new, 26-unit, multifamily development will be located near Hollis Innovation Academy, MARTA and Atlanta parks.
English Commons
A $1 million Westside TAD grant is helping to redevelop and activate vacant property along James P. Browley Boulevard in the English Avenue community. Clifford Palmer, a resident of English Avenue for more than a decade, is developing the property, which will include 20 multifamily housing units.