ABI exceeds 50% of its affordable housing goal with the closing of Skyline Apartments
Atlanta BeltLine, Inc. (ABI) has contributed $2 million towards Skyline Apartments – 250 units of affordable housing set to rise at 1090 Hank Aaron Drive in south Atlanta. The financial closing, which took place on February 18th, puts ABI at 53% of its affordable housing goal of 5,600 units in the BeltLine TAD as outlined in the 2005 founding legislation.
Situated directly on the Southside Trail in the neighborhood of Peoplestown, Skyline Apartments joins a number of other affordable housing developments representing more than 600 apartments underway in the area.
“We’re proud that ABI, alongside our partners, has now exceeded 50% of our affordable housing goal,” said Atlanta BeltLine, Inc. President & CEO Clyde Higgs. “We continue to aggressively build the pipeline of housing around the Atlanta BeltLine and explore new avenues to help residents remain in their homes.”
All 250 apartments, including 46 studios, 101 one-bedroom apartments, and 103 two-bedroom apartments, will be available to families earning 60% or below of Area Median Income (AMI) for an affordability period of at least 20 years.
The developer, led by Exact Capital Group, LLC, and Aleem Construction estimates Skyline Apartments to be complete in 2023. The complex will include a community room, a fitness center, an outdoor pavilion, central laundry facility, and access to public transportation. In addition to the $2 million contribution from the Atlanta BeltLine, the developer received a tax-exempt bond issuance from Invest Atlanta’s Urban Residential Finance Authority, low-income housing tax credits from the Georgia Department of Community Affairs, as well as funding from Local Initiatives Support Corporation (LISC).
This segment of the Southside Trail, between I-75/85 and Boulevard, received a RAISE grant from the U.S. Department of Transportation to help fund construction. While currently this segment is open to the public in an unpaved state, it is anticipated to go into construction in 2023.
Funding for developments like Skyline Apartments comes from the Atlanta BeltLine Affordable Housing Trust Fund (BAHTF), created in 2005. The BAHTF contributes to the creation and preservation of affordable units within the BeltLine Tax Allocation District (TAD). The TAD is a financing tool that is projected to cover approximately a third of the costs to build out the Atlanta BeltLine. Invest Atlanta administers BAHTF funds on behalf of ABI and, for Skyline Apartments, served as the bond issuer and handled application intake, underwriting, and board approvals.
To date, ABI has partnered with organizations to create or preserve 2,977 affordable units within the TAD. In the broader BeltLine Planning Area, a total of 4,683 affordable units have been created or preserved within walking distance of the Atlanta BeltLine. ABI exceeded its annual goal in 2021, set forth as 320 affordable units for the year, with 366 units closed.
Within the Peoplestown neighborhood, The Milton is now pre-leasing 156 new affordable apartments. Near the future Westside Trail, in the Bankhead / Historic Westin Heights neighborhood, 182 affordable units are now available for lease at Parkside. Both developments were funded with contributions from the BeltLine Affordable Housing Trust Fund.
ABI, in conjunction with Atlanta BeltLine Partnership (ABP), also administers the Legacy Resident Retention Program (LRRP). This program provides financial assistance to cover property tax increases for qualifying homeowners through 2030 and help alleviate displacement pressures.
Need to get in the list
Hi John – we’ll be sure to post on our website when this development is built and ready for leasing.
Thanks, Jenny
What about Hud Housing for the poor?
Hi Randall – the Atlanta BeltLine works with a number of partners on housing at a range of income levels. If you’d like, we can send you a list of affordable housing resources.
Thanks, Jenny
Hi Jenny I really need that list. Would you please send it to me? Thanks in Advance Ann
While the Atlanta BeltLine does not own or manage affordable housing around the Atlanta BeltLine, we do have many resources for finding affordable units around the Atlanta BeltLine and around the city. I’ll send you a direct email with resources. – Chelsea
Can you please send me a list thanks
While the Atlanta BeltLine does not own or manage affordable housing around the Atlanta BeltLine, we do have many resources for finding affordable units around the Atlanta BeltLine and around the city. I’ll send you a direct email with resources. – Chelsea
sending you a link with resources.
I need get on the list please
we’ll be sure to post on our website when this development is built and ready for leasing.
Hi how do I apply for the affordable housing units?
Hi Rachel – Skyline apartments is currently under construction and scheduled to be completed in about 18 months. We will be sure to post information about how to apply once they start leasing.
Seeking information for affordable housing please
While the Atlanta BeltLine does not own or manage affordable housing around the Atlanta BeltLine, we do have many resources for finding affordable units around the Atlanta BeltLine and around the city. I will send you a direct email with a list of housing resouces.
Hello, can you also send me the list of affordable housing resources please. Thank you!
Hi Debora – I just sent a list of resources to your email address.
Hello can you send me the list as well please? Thank you so much.
Just sent it.
Jenny,
Will you also send me a list of affordable housing resources.
Thank you,
LaVone
While the Atlanta BeltLine does not own or manage affordable housing around the Atlanta BeltLine, we do have many resources for finding affordable units around the Atlanta BeltLine and around the city. I’ll send you a direct email with resources.
Is there a potential timeline for completion? Probably 2024 at the earliest correct ?
The development broke ground in February 2022. Construction will take approximately 18 months.
I am very interested in these apartments. Can I get on the waiting list early? Also may you send me a list of other tax creditnor affordable housing around the atlanta area such as this one.
Hi Johnniesha! While the Atlanta BeltLine does not own or manage affordable housing around the Atlanta BeltLine, we do have many resources for finding affordable units around the Atlanta BeltLine and around the city. I will send you a direct email with a list of housing resouces. This property is not yet leasing but we will make sure we post to our website when they are open for applicants.
Hello, I would like to receive affordable housing resources as well via email. Thank you!
Hi Tam! While the Atlanta BeltLine does not own or manage affordable housing around the Atlanta BeltLine, we do have many resources for finding affordable units around the Atlanta BeltLine and around the city. I will send you a direct email with a list of housing resouces.
Hello, how can i get information on affordable housing.
Hi Nikki! While the Atlanta BeltLine does not own or manage affordable housing around the Atlanta BeltLine, we do have many resources for finding affordable units around the Atlanta BeltLine and around the city. I will send you a direct email with a list of housing resouces.
I would like information on affordable housing, please.
While the Atlanta BeltLine does not own or manage affordable housing around the Atlanta BeltLine, we do have many resources for finding affordable units around the Atlanta BeltLine and around the city. I will send you a direct email with a list of housing resouces.
Can I have a list of adorable housing as well?
While the Atlanta BeltLine does not own or manage affordable housing around the Atlanta BeltLine, we do have many resources for finding affordable units around the Atlanta BeltLine and around the city. I’ll send you a direct email with resources. – Chelsea
Can I get a list please? Would like to rent a single family home or townhouse.
While the Atlanta BeltLine does not own or manage affordable housing around the Atlanta BeltLine, we do have many resources for finding affordable units around the Atlanta BeltLine and around the city. I’ll send you a direct email with resources. – Chelsea
Please send me a list of affordable housing now available.
Thank You
Hi Thelma! While the Atlanta BeltLine does not own or manage affordable housing around the Atlanta BeltLine, we do have many resources for finding affordable units around the Atlanta BeltLine and around the city. I will send you a direct email with a list of housing resouces.
Is there a waiting list that I can be put on ?
While the Atlanta BeltLine does not own or manage affordable housing around the Atlanta BeltLine, we do have many resources for finding affordable units around the Atlanta BeltLine and around the city. I’ll send you a direct email with resources. You will need to contact the property directly. – Chelsea
Hello can I get the list of affordable housing around the belt line?
Hi Terrion! While the Atlanta BeltLine does not own or manage affordable housing around the Atlanta BeltLine, we do have many resources for finding affordable units around the Atlanta BeltLine and around the city. I will send you a direct email with a list of housing resouces.
Hey can I get a list that consist of multiple complexes/ units that’s currently available for affordable housing? I keep finding ones that aren’t complete yet. I’m looking to move by Feb/Mar. Also is the Milton still currently open for applications?
While the Atlanta BeltLine does not own or manage affordable housing around the Atlanta BeltLine, we do have many resources for finding affordable units around the Atlanta BeltLine and around the city. I will send you a direct email with a list of housing resouces. You will need to contact The Milton directly.
I’d like a list of affordable housing
sending you an email with resources!