“More groundbreaking is welcome news for a supply-starved housing market.” — First American deputy chief economist Odeta Kushi 

The 100%-affordable development will be known as Madison Reynoldstown and comprise two midrise buildings on a 1.2-acre parcel on the corner of Memorial Drive and Chester Avenue. 

Plans for the downtown development call for 320 residences, 85% of which will be designated affordable, plus new space for the church’s Atlanta First Day School, a new fellowship hall and street-level retail. 

The decade-long plan calls for the construction of dozens of new townhomes and almost 1,000 apartments, as well as hundreds of thousands of square feet of retail and office space and a 150-room hotel.

The homebuilder has purchased the remaining lots in the Cobb County community and will open sales to some sites on April 30. 

Members of the Greater Atlanta Home Builders Association have until March 4 to sign up for the annual showcase of model and spec homes. 

“Builders are entering 2022 with backlogs that they are having a hard time completing due to material and labor shortages, and new-home prices are sitting near a historic high.” — First American Deputy Chief Economist Odeta Kushi

“Production disruptions are so severe that many builders are waiting months to receive cabinets, garage doors, countertops and appliances.” — NAHB Chairman Jerry Konter 

Single-family housing starts fell 5.6% from December’s revised estimate to 1,116,000, while multifamily starts slid 2.1% to 510,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said.

At least six large developments representing more than 1,300 new for-sale and rental homes have been proposed recently. 

Atlanta’s Midtown Alliance said there were 5,172 residential units concurrently delivered or under construction in 2021, a new record. 

The two-story townhomes are available in three floor plans and are priced from the mid-$400,000s. 

The homebuilder is offering seven different single-family home plans ranging from 2,520 to 3,137 square feet of space. 

The first six units at the popular mixed-use development sold “almost instantly,” and now more are available for pre-sales, according to Engel & Völkers Atlanta.

The completed project on Marietta Street will offer 120 residences. 

Builders started to make headway against supply-chain issues that have hampered construction of homes in the face of high demand.