Affordable apartments planned for Atlanta's Reynoldstown neighborhood
More than 100 affordable apartment units will be constructed along the Atlanta BeltLine in Reynoldstown.
- Earlier this month, Atlanta BeltLine Inc., along with Atlanta Housing and Rea Ventures Group, closed on property next to the Lofts at Reynoldstown Crossing at 872 Memorial Drive, the agency said in a news release.
Why it matters: After years of prioritizing building trails and parks, BeltLine officials are playing catch-up to create a promised number of affordable units so everyone — not just the well off — can enjoy the project.
The new apartment building, called Madison at Reynoldstown, will feature 116 units classified as affordable, ranging from 30 to 80% of the Area Median Income, Atlanta BeltLine says.
- The units will remain affordable for 30 years.
What they’re saying: “Housing affordability is a priority for us at the Atlanta BeltLine and we are thrilled to expand on one of the first affordable projects that predates the paving of the adjacent Eastside Trail,” said Atlanta BeltLine President and CEO Clyde Higgs. “This is much needed long-term affordable housing for a range of income levels.”
- The BeltLine says construction will take about 18 months.
Zoom out: According to the Atlanta BeltLine, it has worked with its partners to create or preserve 2,666 affordable housing units within its Tax Allocation District.
- An additional 4,371 affordable units are now within walking distance to the BeltLine, it says.
The big picture: The BeltLine was sold to the public as a project that everyone – from new residents making low salaries to people who lived in adjacent neighborhoods long before it was even an idea – in Atlanta should enjoy.
Atlanta BeltLine says its Affordable Housing Working Group Report set out to create or maintain 320 affordable housing units this year.
- With the help of its partners, the BeltLine said it exceeded that goal, with 332 units completed and 250 more expected to be added by the end of the year, the organization said.
Thomas Wheatley contributed to this story.
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