A new transit-oriented development (TOD) near the Edgewood-Candler Park MARTA Station will include 34 affordable workforce housing units, thanks to support from Invest Atlanta.
The IA board approved a resolution to issue $42.9 million in lease purchase bonds to support the project. The residential and retail development is nearly complete, and once open, will offer 224 rental units, 34 of which will be workforce housing units affordable to households earning 80% AMI or below.
By converting underutilized parking to productive mixed-use space, this TOD will provide new mixed-income housing, retail, and service options to the surrounding community. The total economic output for the project is estimated to be over $60 million.
This project aligns with Invest Atlanta's goal to create more affordable living options close to transit, and with it, greater access to opportunities for our residents. Invest Atlanta has supported MARTA’s Transit Oriented Development strategy with other projects, including one at King Memorial Station.
UPDATE: Invest Atlanta closed on the $42.9MM lease-purchase bond in early May 2018, a few months before the development's grand opening.