ATLANTA — The City of Atlanta and some community organizations have announced some historic investments into the city's affordable housing Tuesday.
City officials said they plan to secure $300 million in investments to the metro Atlanta area. At least a third of those funds will go to the district 12 area, which includes the Adair Park and Browns Mill Park neighborhoods.
“In every city, the trends have been moving in the wrong direction for entirely too long and too many people are struggling,” Community Foundation President and CEO Frank Fernandez said
The investments would help with developing, preserve and secure more funds for affordable housing projects.
"It's a problem that we can solve," Mayor Dickens said.
Three quarters of Atlantans spend almost half of their monthly income on housing, according to city officials. They believe the situation is only going to get worst.
An Atlanta resident, Toinette Freeman, who was homeless has benefited from the city's affordable housing program. She lost her husband before they could both receive housing.
"Every time I go out the door, I smile because I have a place to come to. I don't have to live on the streets anymore," Freeman said.
At least $100 million has been officially secured from the Robert W. Woodruff Foundation and Joseph B. Whitehead Foundation through the Community Foundation of Greater Atlanta to build homes for families and seniors in the neighborhood.
The Community Foundation of Greater Atlanta is committed to raising another $100 million, but they only have $32 million raised thus far.
The foundation said the funds would support both low-cost loans and grants that will address the city's housing challenges.
Mayor Dickens also announced at Tuesday's press conference that his administration plans to work with the city council to add another $100 million to the housing bond.
"This is just the start, but it is an ambitious one. It is an opportunity that we will seize with urgency," he added.
Dickens also said that the investments will help the city develop more mixed income properties.
Meanwhile, officials said the city is also working with property owners to have conversations that will hold them accountable when keeping housing up to code in Atlanta.
Dickens said he took office with a plan to build over 20,000 units of affordable housing in the city by 2030.
The mayor added that the new investments and affordable housing are seen as the city's "group project."
Do you have a story idea or something on your mind you want to share? We want to hear from you! Email us at WhereAtlantaSpeaks@11Alive.com.