ATLANTA, GA - The Atlanta BeltLine, Inc., or ABI, announced their support to building 160 affordable senior housing units at Chosewood Park and South Atlanta.
The initiative received $34 million funding through Invest Atlanta, a number which also includes $1 million from the BeltLine Affordable Housing Trust Fund (BAHTF) and $16 million in Tax-Exempt Bond financing. This project has also received an additional $640,000 fund from Partners for HOME which will support 16 units that are specifically designed to permanently support individuals suffering from chronic homelessness.
The senior housing will be located at 1256 Lakewood Avenue, between Pittsburgh Yards and Boulevard, around quarter-mile south of the BeltLine.
As of 2021, the ABI has created or preserved a total of 4,347 affordable housing units along the Atlanta BeltLine. They have also closed 216 units and are expecting to close 525 more later this year. The ABI aims to accelerate land acquisition around the BeltLine and sustain deeper and longer-term affordability in terms of housing, jobs, small businesses, and connectivity. Because of this, the ABI has invested $39 million on roughly 65 acres of land in five sites.
To achieve this goal, the ABI has also partnered with the City of Atlanta, Atlanta BeltLine Partnership (ABP), and HouseATL to create long-term policies that can mitigate displacement pressures. They are also in the works of developing rent subsidy programs for families earning 80% Area Median Income (AMI) so they may have the option to expand their housing.
For more information regarding the progress of these senior housing units, visit the official page here. If you have any housing inquiries or resources, feel free to email firstname.lastname@example.org.
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