Atlanta’s affordable housing efforts just got a big shot in the arm. 

At its board meeting earlier this week, the city’s economic development agency, Invest Atlanta, approved more than $85 million of financing for the development of 570 affordable housing units in the city. 

The five projects receiving funding will offer multifamily and single-family homes across a range of median-income levels. 

“All of Invest Atlanta’s affordable housing investments are underpinned by a mission to make Atlanta one of the most equitable and prosperous cities in the world,” Invest Atlanta President and CEO Eloisa Klementich said in a release. “In Atlanta, a child born into poverty has a less than a 5% chance of escaping it in their lifetime, which is why the opportunities we are creating through affordable housing matter so much to the future of the city.” 

The developments include: 

• Englewood Senior, which received a $3 million Beltline Tax Allocation District (TAD) Increment Grant for the construction of 160 multifamily senior-housing units in Chosewood Park. The project will offer 21 units at 30% of area median income (AMI) and 139 units at 60% AMI. 
• Henderson Place Apartments, which received a $12.5 million tax-exempt loan and a $3.26 million Housing Opportunity Bond Fund loan for the construction of 76 apartments in Old Fourth Ward. The development will have 16 units at 50% AMI and 60 units at 60% AMI. 
• Herndon Square, which received a $41.5 million tax-exempt loan for 201 apartments in the English Avenue neighborhood. Herndon Square will have 127 units at 60% AMI and 43 units at 80% AMI. 
• The Simpson, which received a $28 million tax-exempt loan for 139 Vine City apartments, of which 39 will be priced at 30% AMI, 58 will be priced at 60% AMI and 42 will be priced at 80% AMI. 
• Carey Park, which was awarded a $1.5 million Perry Bolton TAD grant for the construction of single-family homes in the Carey Park neighborhood. Five of the homes will be priced at 80% AMI and 20 homes will be priced at 100% AMI.