ATLANTA — Atlanta BeltLine Inc. recently closed on $1.7 million in grant funding, which will be used to help develop 29 permanently affordable townhomes in a new Oakland City development.
The community, referred to as the Avenue at Oakland City, is a land trust model that "ensures properties remain affordable in perpetuity," according to a release.
In total it will contain 36 two- and three-bedroom townhomes, 13 of which are offered to buyers earning up to 80% AMI (area median income) and 16 offered to buyers with 100 percent AMI, hence the 29 permanently affordable units. The release adds that prices for these units will start at $186,000 and some buyers will qualify for down payment assistance.
“We’re proud of our work with Atlanta Land Trust to create these special homes that will change the future for 29 families by building generational wealth,” said Atlanta BeltLine, Inc. President and CEO Clyde Higgs. “Through this model, we extend an equitable way for people to buy and own their homes in neighborhoods that offer access to jobs and Atlanta’s best amenities.”
The community itself will be located a short distance away from the Oakland City MARTA station, the Atlanta BeltLine Westside Trail, and Lee + White. It will also be situated near Murphy Crossing, a 20-acre BeltLine owned future mixed use and mixed income development.
According to a release, the Avenue at Oakland City will be built in two phases, with the first move-ins expected at the end of 2023.
Groundbreaking for The Avenue at Oakland City took place in late 2022 following collaborative effort led by the Atlanta Land Trust and the Oakland City Community Organization.
To date, the BeltLine is 56% of the way toward this goal, having assisted in the creation or preservation of more than 3,100 affordable places to live in the TAD. The BeltLine’s housing progress can be tracked in this housing dashboard. Many of the properties shown on this dashboard were provided with grants for affordable housing through the BeltLine TAD Increment Fund or the BeltLine Affordable Housing Trust Fund, both of which are managed by Invest Atlanta.
