Atlanta BeltLine Inc. and Invest Atlanta have secured $1.17 million in grant funding to support the development of 29 “permanently affordable” townhomes in Oakland City.
The townhomes will be part of The Avenue at Oakland City, a 36-unit development by the Atlanta Land Trust and Intown Builders. A community land trust model will ensure the townhomes will remain affordable in perpetuity.
Thirteen of the homes will be available to buyers earning up to 80% of the area median income, and 16 will be offered to buyers earning 100%. Prices of the two- and three-bedroom residences 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,” Atlanta BeltLine President and CEO Clyde Higgs said in a press release. “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 Avenue at Oakland City is near the Atlanta BeltLine’s Westside Trail, the Oakland City MARTA station and Lee + White, as well as Murphy Crossing, a mixed-use and mixed-income development slated to rise on 20 acres of BeltLine-owned land. The Avenue will be built in two phases, with the first move-ins expected at the end of 2023.