Atlanta Housing Approves Budget, Goal of 1100 New Units (homes, neighborhoods)

[cqholt]

Only 1/3 of the $357M budget ($121M) will be spent on new housing.

The need is huge: about 75,000 households are on the waiting list for assistance from the city’s public housing authority. (Not all those people even live in Atlanta now, however.) But the vacancy rate in privately owned multifamily properties in Atlanta is below 5%.

A highlight under “development and revitalization expenditures” is $35.6 million to be spent primarily at the former Herndon, Englewood and Bowen homes projects, according to the authority’s spending plan.

Each will take years to finish and together, they would provide a total nearly 1,500 new below-market rate “affordable” homes for families at various places on bottom of the income ladder. There are also plans at various points of completion to redevelop several other sites across the city.

There’s also about $31.8 million in the budget for “co-investment and new initiatives,” which means in large part helping fund projects with the city’s development authority and the BeltLine. Those are scattered throughout the city.

There’s also $25 million from a federal grant first announced several years ago to be spent in portions of Vine City, Ashview Heights and the Atlanta University Center neighborhoods.

https://saportareport.com/atlantas-h...t05ywCzOO-LYxo