The City of Atlanta intentionally incorporated affordable housing through the legislatively-mandated goal of creating 5,600 affordable workforce housing units in the Tax Allocation District (TAD) over the life of the program.
Between 2005 and July 2019, there have been 2,682 affordable workforce units created within walking distance of the Atlanta BeltLine (this includes those in the Atlanta BeltLine Planning Area created by ABI, Invest Atlanta, the Atlanta Housing Authority, and the State Department of Community Affairs. As of July 31, 2019, there are 582 affordable housing units in the pipeline. Over $11 million has been committed to affordable housing in the FY20 budget.
Housing Accomplishments and Pipeline
Between 2006 and July 2019, Atlanta BeltLine, Inc. has achieved:
- 1,640 affordable units in TAD supported by Invest Atlanta, ABI, Atlanta Housing Authority, Dept. of Community Affairs, and Development Authority of Fulton County.
- 1,042 affordable units in Planning Area (outside the TAD and within 0.5 miles of the Atlanta BeltLine) supported by Invest Atlanta, ABI, Atlanta Housing Authority, Dept. of Community Affairs, and Development Authority of Fulton County.
Together, these units represent 2,682 affordable homes within walking distance of the Atlanta BeltLine.
The below chart details the affordable units in the development pipeline:
Atlanta BeltLine, Inc. Affordable Housing Pipeline August 2019
Though overall housing development around the Atlanta BeltLine is strong, our ability to meet the project’s goal of 5,600 affordable workforce housing units requires enhanced or new tools and strategies.
In order to reach the Atlanta BeltLine’s ambitious goals, we welcome the opportunity to work closely with key public and private partners on programs, policies, and funding that will make affordable housing a realistic opportunity for all who wish to live in and around the Atlanta BeltLine. We invite others to join us in making Atlanta BeltLine neighborhoods affordable for all.
The Atlanta BeltLine’s current efforts for affordable housing center around the following programs:
- Inclusionary Zoning requiring developers building ten or more new residential rental units within the Atlanta BeltLine Overlay District to set aside units for affordable housing (more details under the Policies & Programs tab above).
- Centralizing information on tax exemptions for homeowners; affordable housing opportunities through ABI and Invest Atlanta partnerships (see Resources tab above).
- Homeowner education workshops designed to make sure existing homeowners in Atlanta BeltLine neighborhoods are equipped to take advantage of available resources to stay in their homes or knowledgeably evaluate opportunities if they are considering selling (see Resources tab above) .
- Pursuing key strategies and projects in accordance with the Integrated Action Plan.
Turning Plans Into Action
In 2015, ABI completed an Integrated Action Plan (IAP) to determine how to best achieve the 2005 Redevelopment Plan’s ambitious economic development and housing goals. The approach of the IAP is practical and action-oriented. It concentrates on fiscal years 2016 to 2020 while establishing a longer-term general framework through 2030.
Key strategies of the Integrated Action Plan include:+-
- Pursue and diversify funding sources
- Build financial sources and tools for land acquisition
- Predevelopment and sale/lease of ABI-owned land to include affordable workforce housing
- Strengthen partnerships and policy (i.e. Inclusionary Zoning)
Watch Atlanta BeltLine Down Payment Assistance Program Success Stories
In 2015 and 2016, Atlanta BeltLine, Inc. partnered with the Federal Home Loan Bank of Atlanta on the Housing Initiative Program (HIP), which provided funding for downpayment assistance and owner-occupied rehabilitation for homes along the Atlanta BeltLine corridor. After two years of success, the program reached completion. Today, there are other resources to explore for downpayment assistance and owner occupied rehabilitation. If you are interested in downpayment assistance, please see Invest Atlanta’s homebuyer incentives here. If you are interested in owner occupied rehabilitation, please see a list of non-profit organizations participating in the Home Repair Network here.
Johna bought her one bedroom, 1.5 bath home last year with downpayment assistance from the Atlanta BeltLine Housing Initiative Program. Read more about her successful home purchase with downpayment assistance.
The Hodges Family discuss how they were able to buy their home through the Atlanta BeltLine’s partnership with the Federal Home Bank of Atlanta.