ATLANTA — MARTA and Goldman Sachs announced Friday they are teaming up to help with a $100 million initiative for more affordable housing in Atlanta.
The affordable housing will support mixed income developments within a mile of MARTA rail stations.
According to a release, the housing will have access to MARTA’s 38 heavy rail stations and 12 Atlanta Streetcar light rail stops.
"MARTA has long been focused on not only moving people throughout the region but in improving the communities we serve. This partnership with Goldman Sachs supports our ongoing mission to provide equitable access to jobs, education, and affordable housing," MARTA General Manager and CEO Jeffrey Parker said. "The initiative helps boost development in the communities around our rail stations and lays the groundwork in advance of other planned transit projects."
Goldman Sachs said it hopes to stimulate growth and opportunity across Atlanta, as well as invest in its One Million Black Women Initiative.
“Access to stable, quality, affordable housing near reliable transportation is critical to every area of a person’s life and is connected to better health outcomes and economic mobility,” Margaret Anadu, the Global Head of Sustainability and Impact for Goldman Sachs Asset Management said. “Through One Million Black Women, we are investing in the infrastructure that enables Black women, their families and their communities to succeed and are so excited to participate in this work in Atlanta.”
Earlier this year, MARTA facilitated the construction of another $100 million affordable housing TOD fund, which focuses on protecting and preserving existing units within a half mile of its rail stations.
According to MARTA, it currently has 1,500 affordable housing units either completed, under construction or in negotiation.