#USA #Atlanta #affordable housing #Atlanta Beltline #Low-Income Homeowners

Atlanta Beltline's Remarkable Progress in Affordable Housing

In a remarkable achievement, the Atlanta Beltline has exceeded its affordable housing objectives for 2024, with the successful delivery of 569 units—nearly 90% above its annual target of 300 units. This ambitious initiative is a crucial step towards addressing the ever-growing demand for affordable accommodation in Atlanta, aligning with Mayor Andre Dickens's broader vision of securing 20,000 affordable units by 2030.

Clyde Higgs, President and CEO of Atlanta Beltline, Inc., remarked, "We're hitting our stride in making equitable development a reality. By leveraging strong partnerships, long-term land planning, and innovative funding strategies, we're on track to not only meet but likely exceed our 2030 goals." This achievement has brought the Beltline closer to its target of creating or preserving 5,600 affordable housing units within the Beltline Tax Allocation District by 2030, progressing to 74% completion.

Key Achievements and Collaborations

The success of the Beltline's housing initiatives in 2024 can be attributed to its collaborative efforts with partners like Invest Atlanta and the City of Atlanta. This synergy has paved the way for several noteworthy projects, including:

• - Englewood Senior Housing: $2 million from the TAD Increment Fund supported the development of 160 units of affordable rental housing for seniors.
• - Englewood Multifamily Housing: This project received a $3 million grant towards the construction of 160 affordable multifamily units.
• - Residences at Chosewood Park: Ground broke for 90 affordable housing units, supported by a $2 million TAD Increment Fund Grant.
• - Stanton Park Apartments: 56 affordable units were launched in Peoplestown with the aid of $2 million from the Atlanta Beltline Affordable Housing Trust Fund.
• - 579 Garson Drive Development: A new project was awarded competitive Low-Income Housing Tax Credits (LIHTC) for a mixed-use community featuring 130 affordable units.
• - 350 Chappell Road: LIHTC approval was secured for a 218-unit project set to commence in 2026.

These projects represent a small fraction of the comprehensive plan the Beltline has in place to tackle housing affordability alongside commercial development.

Land Acquisition and Preservation for Future Development

The Beltline’s strategy includes focusing on land acquisition to maintain long-term affordability and promote equitable development. Notable efforts include the planning phases for sites like 356 University Avenue, which is adjacent to Pittsburgh Yards and open to community input, and Murphy Crossing, a 20+ acre site, which is progressing through a community-driven planning process.

As it stands, the Beltline has successfully acquired 87 acres for development, consolidating its efforts to create transformational projects tailored to community needs. This land control is essential to guiding inclusive and sustainable development policies aimed at meeting and surpassing affordable housing targets.

Supporting Long-time Homeowners

In addition to new developments, the Beltline is committed to supporting existing low-income homeowners through the Legacy Resident Retention Program (LRRP), which has provided significant property tax relief to 250 homeowners. This initiative aids long-time residents in preserving their homeownership amidst rising property taxes, facilitating wealth building and financial stability.

Rob Brawner, Executive Director of the Atlanta Beltline Partnership, highlighted the importance of lifetime residents benefiting from the opportunities presented by the Beltline while reinforcing community ties. The LRRP has become a crucial anti-displacement tool, with estimates showing a combined increase in home values of $10.8 million for participants.

Homeowners like Tanisha Corporal have shared how the program has allowed them not only to stay in their homes but to invest in their futures and families. She stated, “The Legacy Resident Retention Program isn’t just helping me stay in my home—it’s preserving an asset I can pass down to my son while allowing me to remain part of a community I’ve helped build.”

Looking Ahead

As the Atlanta Beltline approaches its 20th anniversary, they aim to be recognized not just for its 22-mile trail network but also for its impactful efforts in housing equity. Higgs expressed optimism about the future: “With momentum and continued support from key partners, the Beltline anticipates exceeding its 2030 housing goals. Beyond the numbers, the Beltline is focused on the real impact of its work—providing neighborhood stability through affordable homes, preserving communities, and fostering opportunities.”

With initiatives like LRRP and substantial project completions, the Atlanta Beltline continues to make strides toward its goal of achieving equitable housing solutions for all residents.