Direct script access denied. Atlanta BeltLine, Inc. Surpasses 2022 Affordable Housing Goal
Atlanta BeltLine Affordable Housing

After countless remarkable affordable housing ventures, Atlanta BeltLine, Inc. (ABI) surpassed its 2022 goal in just four months. With a mission to provide 5,600 units of affordable housing by 2030, the organization is well on its way to completing its goal ahead of schedule.

As of April 2022, ABI has provided 373 economic housing units within the BeltLine Tax Allocation District (TAD), exceeding its goal of 320 for the year. The Skyline Apartments development contains 250 units, with 123 units attributed to Atlanta’s Inclusionary Zoning Ordinance announced earlier in the year. 

“Getting these results so early in the year is thanks to concerted, coordinated efforts across multiple agencies,” said Atlanta BeltLine, Inc. President and CEO Clyde Higgs. “We’re celebrating major milestones for the BeltLine, including receiving new federal and philanthropic funding sources which mean will complete construction of the BeltLine trail by 2030 as well.”

Affordability is a key component of the ABI community commitment as housing prices continue to soar within the metro area, affecting BeltLine affordable housing options. 

 

Atlanta BeltLine Affordable Housing 2022 Graph
Photo Courtesy of Atlanta BeltLine, Inc.

ABI works closely with multiple partners to achieve affordable housing goals and provides capital to development projects that create affordable housing and commercial affordability within the BeltLine TAD. ABI, in partnership with Invest Atlanta, administers the Atlanta BeltLine Affordable Housing Trust Fund (BAHTF) and BeltLine Tax Allocation District (TAD) excess increment fund for these purposes. The BAHTF can contribute up to $2 million per development.

The amount of Atlanta affordable housing is increasing day by day thanks to the efforts by the City of Atlanta and the first Inclusionary Zoning (IZ) ordinance. Sponsored by former Councilmember and current Atlanta Mayor Andre Dickens, the 2018 legislation requires developers to set aside units for renters making 60-80% of the Area Median Income (AMI). 

The Inclusionary Zoning Ordinance applies to all multifamily rental developments with at least 10 units within the BeltLine Overlay District, the Westside Park Affordable Housing District and the Westside Overlay District. Developers must also price a minimum percentage of market share units at affordable housing rates based on the area’s AMI.

To date, 35 projects are either in construction, development or have reached completion, producing 781 affordable housing units. All but three developments lie within the BeltLine overlay districts.

“This tells me that all of the thought and planning we’re putting into meeting the affordable housing goal is yielding results,” said Dennis E. Richards, Jr., ABI Vice President, House Policy & Development. “We’re anticipating two more projects will get announced soon – 1095 Tucker and 1055 Arden – both affordable projects that will benefit from BeltLine funding sources.”

The Atlanta BeltLine Partnership (ABP), the Atlanta BeltLine nonprofit counterpart, established the Legacy Resident Retention Program (LRRP) to discourage displacement within the district by providing financial assistance. 

The following market-rate ABI properties will provide additional affordable units thanks to Inclusionary Zoning:

  • Link Apartments (730 Glenwood Ave, NE): 38 affordable units at 80% AMI
  • The Maverick, Phase I (72 Milton Ave, SE): 48 affordable units at 80% AMI
  • The Maverick, Phase II (72 Milton Ave, SE): 17 affordable units at 80% AMI (under construction)
  • The Skylark (1099 Boulevard, SE): 48 affordable units at 80% AMI
  • Alton East (777 Memorial Drive #7000): 38 units at 80% AMI
  • Aspire Westside (900 Joseph E. Lowery Blvd): 26 units at 80% AMI
  • Verge Apartments (125 Milton Ave): 47 units at 80% AMI (under construction)
  • Novel West Midtown (1330 Fairmont Ave): 34 units at 60% AMI (under construction)
  • Fairfield Piedmont (1944 Piedmont Ave): 59 units at 60% AMI (under construction)

About Atlanta BeltLine, Inc.

Atlanta BeltLine, Inc. (ABI) is committed to transforming Atlanta into an international model for sustainable, equitable and inclusive city life. As one of the largest and most wide-ranging urban redevelopment programs in the United States, ABI paves the way for a more economically and socially resilient Atlanta by providing access to affordable housing, green spaces, inclusive transportation and job creation. For more information about ABI, visit www.BeltLine.org.

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