ATLANTA — Atlanta Mayor Andre Dickens announced the approval of financing to create or preserve 218 affordable housing units.
The actions by the Invest Atlanta Board of Directors are part of an ongoing commitment to address the need for affordable housing in Atlanta and create more inclusive communities that cater to all residents.
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“Affordable housing is not a one-size-fits-all solution, so we need to ensure our investments meet people where they are—whether that is single residents, families or seniors,” Mayor Dickens who serves as Invest Atlanta Board Chair said. “I am incredibly proud of the strides the Invest Atlanta Board and team continue to make, including today’s actions that will provide more single-family and multifamily options for more Atlantans.”
A $20 million tax-exempt bond will support National Church Residences’ purchase and rehabilitation of 152 senior housing units in Martin House at 60 percent of the area median income in the Adamsville neighborhood.
Martin House is a 20-year-old senior living property with repair needs.
This investment will help preserve affordable housing there for another 30 years.
Another roughly $3.5 million in funding will support the acquisition of additional 66 rental units.
Invest Atlanta has closed on financing to support the creation or preservation of 4,581 affordable housing units since 2022.
Mayor Dickens’ goal is to create or preserve 20,000 affordable housing units by 2030.
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