ATLANTA — The Arthur Blank Family Foundation, a high-profile nonprofit, is putting $22 million into a northwest Atlanta neighborhood that has driven out many of its residents.
The biggest chunk of money from the Blank Foundation will benefit an agency that has wrestled for years with the challenge of building affordable housing in the area.
Carlton Hendricks said he’d like to move back into the neighborhood known as English Avenue and Vine City.
"It’s probably 20 years since I lived in this neighborhood," Hendricks said.
He likes the huge new city park built off Joseph Boone Ave. and sees fewer obvious trouble spots in the community. However, he doubts he can move back.
"I guess it could be affordable if they’d lower the rent. Right now it’s not affordable to me," Hendricks said.
Nearby, a nonprofit called the Westside Future Fund has purchased chunks of residential property, some of them long abandoned. The nonprofit will get $10 million from the Arthur Blank Family Foundation to buy even more property – with an eye on making it affordable for residents who can’t afford it now.
"So, being able to go down and buy the land, and repurpose the land as high quality affordable housing is what this philanthropic gift will enable us to do," said WFF CEO John Ahmann.
The challenge will be to keep the property affordable as private property nearby soars in value – in part because of the Atlanta BeltLine, plus job centers that have located nearby.
It’s a historically Black neighborhood – and its backers said they want to respect that history.
Ahmann said the WFF will work to "ensure people suffering in these neighborhoods benefit from that rising tide."
The Blank Foundation is also giving money to entities that advance the causes of relevant job skills and income equality for women – taking what the foundation describes as a long term view benefiting this area economically.