The Invest Atlanta board approved more than $3 million in Tax Allocation District (TAD) grants to fund the construction of 298 affordable housing units – further supporting Mayor Keisha Lance Bottoms’ efforts to expand housing affordability and drive economic mobility in Atlanta.
Up to $2 million has been granted from the Westside TAD Ascension Fund to finance a mixed-use development that will include 132 multifamily apartments and six live/work spaces for small businesses. Located on Lindsay Street near the Donald Lee Hollowell and Joseph E. Lowery corridors, The Proctor will be located on what is currently a vacant lot in the English Avenue neighborhood.
The development will include 138 housing units, 10,000 square feet of retail space for local entrepreneurs and is situated near the Bankhead MARTA Station, the Atlanta BeltLine, Downtown and West Midtown employment centers. The six, for-sale units will be available at 120% area median income (AMI), while rental affordability will include 14 units at 50% AMI, 18 units at 80% AMI and 100 units at market rate.
Construction also will begin on a new senior housing development in the Chosewood Park community with help from a $1 million grant from the BeltLine TAD. Located at 1265 Lakewood Ave., this development will include full amenities and 160 multifamily housing units, with 48 units available at 50% AMI, 88 units at 60% AMI and 24 units at 80% AMI.