The Atlanta Land Trust (ALT) and Cityscape Housing celebrated the start of construction on The Trust at Oakland City, a new mixed-income housing development in the city’s historic Oakland City community.
The announcement comes as ALT is leading the way towards a more sustainable approach to affordable housing in Atlanta by expanding homeownership throughout the city, including along the Atlanta BeltLine and in neighborhoods such as East Lake, Grove Park, and Pittsburgh.
The Kendeda Fund provided funding for the acquisition of the 3.5-acre site on which the project is being constructed, in addition to BeltLine Tax Allocation District funding through Invest Atlanta and Atlanta BeltLine Inc.
“This project presents an urgent opportunity to mitigate gentrification resulting from public investments in the area with a comprehensive, equity-driven approach that connects people, place, and quality of life,” Amanda Rhein, executive director for the Atlanta Land Trust, said in a press release. “We are working to ensure Atlanta remains a city for all by providing permanently affordable housing that will benefit generations of Atlantans.”
ALT is partnering with Cityscape Housing to develop and construct The Trust at Oakland City. Once complete, the project will include 42 one-, two-, and three-bedroom units ranging from 600 square feet to 1,500 square feet, with sales prices starting at $137,880. ALT aims to make half of the units affordable to families making at or below 60% of the area median income (AMI) and at or below 80% of AMI. The balance of units will be sold at market rates.
“Like communities across our region and country, Atlanta has faced a housing affordability crisis that demands a massive, all-hands-on-deck response, and together, we’ve made great progress in our city. Partners like Atlanta Land Trust, Cityscape Housing, and the Atlanta Beltline, Inc., make sure we’re well on track to meet and hopefully…
Read the full article here