ATLANTA — Atlanta BeltLine announced it had closed on $1.17 million in funding grants to support building almost 30 permanently affordable townhomes in historic Oakland City.
Calling the project The Avenue at Oakland City, the Atlanta BeltLine will use the grant funding it was awarded to support the Atlanta Land Trust and partner Intown Builders, LLC to build 29 townhomes.
The new project is expected to have home prices start at a low end of $186,000, and be offered to buyers earning up to 80% of the Atlanta area median income for 13 of the units, with another 16 to be sold to those at 100% of the AMI.
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According to a statement from Atlanta Beltine, the project is a short walk from the nearby Oakland City MARTA station, the Atlanta BeltLine Westside Trail, and Lee + White.
The development will be built near Murphy Crossing, another BeltLine development, announced in September.
“We’re proud of our work with Atlanta Land Trust to create these special homes that will change the future for 29 families by building generational wealth,” Atlanta BeltLine, Inc. President and CEO Clyde Higgs said in a statement. “Through this model, we extend an equitable way for people to buy and own their homes in neighborhoods that offer access to jobs and Atlanta’s best amenities.”
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The BeltLine statement on the development said the Avenue at Oakland City was another step in creating affordable housing in the area, and “advances the BeltLine’s goal to assist in” creating or preserving 5,600 units within the BeltLine Tax Allocation District by 2030.
As it stands, BeltLine said they were 56% of the way to that goal, having already helped build or preserve more than 3,100 places to live in the TAD.
According to a housing dashboard operated by the organization, 67% of the units are for those at 60% of the AMI, accounting for about 2,000 individual units.
The dashboard splits unit locations between the BeltLine TAD and the BeltLine Planning Area. The interface shows there are currently 3,177 affordable units in the TAD, and 1,771 in the planning area.
Units in the planning area do not contribute to the goal of 5,600 units, but are instead considered to be in walking distance of the Atlanta BeltLine, according to information from the organization.
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