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The Atlanta BeltLine
Where Atlanta Comes Together. Learn more
Affordable Housing Progress
The Atlanta BeltLine is More than Parks and Paths!
As one of our primary outreach initiatives, the Affordable Housing Program brings our program partners together for one very important "giving back" goal - we're working to give Atlanta useful tools and meaningful improvements.
By the end of 2012, 83 individuals or families have used downpayment assistance to purchase townhomes and condominiums around the Atlanta BeltLine. The Affordable Housing Trust Fund has also committed funding to an additional 43 units of new rental housing for low-income seniors.
Atlanta BeltLine, Inc., the Atlanta BeltLine Affordable Housing Advisory Board, and Enterprise Community Partners developed an affordable housing strategy for the Atlanta BeltLine in 2012. The study identifies the existing inventory and future inventory needed for affordable housing. It also created tools and financial models for developers to build affordable housing along Atlanta BeltLine.
Affordable Housing Five Year Update: 2006-2011
Over the course of 25 years, the Atlanta BeltLine has a goal of creating more than 5,000 new affordable homes in the City of Atlanta. This housing ensures that ALL residents, not just higher income residents, can afford a home and enjoy the advantages and amenities the Atlanta BeltLine has to offer. To date, 15 percent of total net bond proceeds, or $8.8 million, has been capitalized in the Atlanta BeltLine Affordable Housing Trust Fund and funding has been committed to more than 120 affordable housing units.
In 2011, ABI created 46 new affordable homes. Eighteen of these affordable homes were created through down payment assistance from the Affordable Housing Trust Fund all around the Atlanta BeltLine.
Additionally, Atlanta BeltLine, Inc. has worked to partner with and foster the Atlanta Land Trust Collaborative (ALTC). ALTC brings needed development expertise and capacity with a focus on permanent affordable housing and transit oriented development.
|Establish Affordable Housing Advisory Board||Completed July 2007||100%|
|Establish Affordable Housing Policies||Completed September 2008||100%|
|Launch Affordable Housing Trust Fund||Completed 2008||100%|
The Lofts at Reynoldstown Crossing
As part of its mission to create affordable workforce housing, Atlanta BeltLine, Inc. acquired the former “Triumph Lofts,” a development in receivership, in mid-September, 2011. Located in the historic Reynoldstown neighborhood, at the intersection of Chester Avenue, Memorial Drive and the Atlanta BeltLine corridor, just north of I-20 and Glenwood Park, the newly named development – “Lofts at Reynoldstown Crossing” – is providing critically-needed affordable for-sale housing in an increasingly desirable part of the city. View the Lofts at Reynoldstown Crossing Case Study (ULI Kemp 2012).
On December 10, ABI hosted the City’s first-ever affordable housing drawing for 28 new homes at the Lofts at Reynoldstown Crossing. In just one day, all 28 homes were under contract, making this one day sales event an unparalleled success in today’s housing market. All of these homes are now affordable.
Three of the homes are part of the Atlanta Land Trust Collaborative, a Community Land Trust (CLT), ensuring that their affordability will be permanently preserved. The success of this initiative is the result of strong collaboration between ABI and Invest Atlanta, with help from numerous partners, including TAD partners APS, Fulton County and the City of Atlanta, as well as the Atlanta Police Foundation, Bank of America, Fifth Third Bank and several community organizations.
The homes were originally built with the amenities and finishes of homes priced in the high $200s and above. All homes feature spacious two-bedroom, two-bath lofts, with high-quality finishes and stainless appliances. The development also features a pool, hot tub, fitness center, club room, rooftop deck and controlled access entrance, in addition to its highly-desirable location on one of Atlanta’s greatest amenities, the Atlanta BeltLine.