Mayor Dickens’ Housing Goals Get $48 Million in Aid

According to information provided by Invest Atlanta, the authority approved $48 million in funding to support seven developments.

The mayor, who often calls affordable housing “my love language,” wants to create or maintain 20,000 affordable housing units by 2030. His office said Invest Atlanta has supported those ambitions by funding 3,314 affordable housing units for a total of approximately $1 billion in capital. investment in housing.

“The Invest Atlanta Board of Directors continues to prioritize investments in affordable housing so that more Atlanta residents have access to safe, quality housing in the communities they choose to call home ” he said in a prepared speech.

Approved developments include Metropolitan Place. It will receive a $37.5 million tax-exempt loan and a $2.9 million housing opportunity bond loan for 176 units in a mixed-use development in Southwest’s Perkerson neighborhood from Atlanta.

An additional $2 million grant for the Beltline Tax Allocation District (TAD) will spur new construction of a mixed-use development in the historic West End Heights and Bankhead neighborhood called the City of Refuge Transformation Center. Tax allocation financing is a mechanism that allows the city to provide funds for public and private redevelopment projects.

The Lewis Crossing development will benefit from a Westside TAD Ascension Fund grant of up to $1 million to help build 50 multifamily units in Castleberry Hill, southwest of downtown, according to the city.

Trinity United Methodist will receive a $2 million Eastside TAD grant for new construction of 54 senior housing units downtown.

Dr. Eloisa Klementich, president and CEO of Invest Atlanta, said the authority has funded $175 million for housing initiatives in 2023.

“These investments are not just about housing, they are a foundation for building strong, inclusive communities,” she said in a statement.

On Wednesday, Dickens’ office also announced the death of civil rights activist Hattie B. Dorsey.

In a tribute, Dickens called her “a tireless advocate for fair housing in our community” and said she led the housing advocacy organization Atlanta Neighborhood Development Partnership to “shape a landscape of fairer housing in Atlanta.”

“Her vision and dedication helped transform countless lives and neighborhoods, fostering a more inclusive Atlanta,” he said.